OLD National Bancorp IN Sells 10,148 Shares of Intel Co. (NASDAQ:INTC)

OLD National Bancorp IN trimmed its position in Intel Co. (NASDAQ:INTC) by 2.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 411,389 shares of the chip maker’s stock after selling 10,148 shares during the period. OLD National Bancorp IN’s holdings in Intel were worth $12,741,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INTC. Norges Bank bought a new stake in Intel in the 4th quarter valued at about $2,424,202,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Intel by 543.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 37,384,507 shares of the chip maker’s stock worth $1,878,572,000 after buying an additional 31,575,084 shares during the last quarter. Capital International Investors boosted its stake in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of Intel by 102.6% in the 4th quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock worth $807,757,000 after buying an additional 8,140,835 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Intel by 44.8% in the 1st quarter. Van ECK Associates Corp now owns 21,556,234 shares of the chip maker’s stock worth $952,139,000 after buying an additional 6,673,086 shares during the last quarter. 64.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on INTC. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, August 2nd. TD Cowen lowered their target price on shares of Intel from $35.00 to $25.00 and set a “hold” rating on the stock in a report on Friday, August 2nd. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a report on Friday. Finally, Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $32.04.

Intel Trading Down 3.8 %

INTC stock traded down $0.78 during mid-day trading on Friday, reaching $19.71. The company had a trading volume of 76,266,178 shares, compared to its average volume of 51,828,367. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The firm has a 50 day moving average of $30.50 and a 200 day moving average of $36.09. Intel Co. has a 12 month low of $18.84 and a 12 month high of $51.28. The company has a market capitalization of $83.91 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.82%. Intel’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) earnings per share. On average, equities analysts predict that Intel Co. will post 0.07 earnings per share for the current fiscal year.

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.54%. Intel’s dividend payout ratio is currently 52.08%.

About Intel

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.