Independence Bank of Kentucky Sells Shares of Intel Co. (NASDAQ: INTC)

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Independence Bank of Kentucky decreased its stake in Intel Co. shares (NASDAQ:INTC) by 4.7% in the first quarter, according to a recent filing with the Securities and Exchange Commission. The bank owned 7,981 shares of Intel’s stock, valued at $353,000 by the end of the quarter. Other institutional investors and hedge funds also made changes to their positions in Intel, with several increasing their holdings. Intel’s stock performance showed an opening price of $30.97 on Friday, with various moving averages and market capitalization metrics.

In terms of quarterly earnings, Intel reported a loss per share of ($0.06) for the quarter, below analysts’ expectations. The company’s revenue was $12.72 billion, slightly below the predicted $12.76 billion. Additionally, Intel recently announced a quarterly dividend payment, with a dividend yield of 1.61%. Analyst ratings for Intel have seen some changes, with a consensus rating of “Hold” and an average price target of $39.58. CEO Patrick P. Gelsinger made several stock purchases, further demonstrating confidence in the company.

Intel Corporation, operating globally, designs, manufactures, and sells computing and related products and services. The company operates through various segments, offering a range of products including processors, chipsets, GPUs, and memory and storage solutions. Insiders currently own 0.04% of the company’s shares.

In conclusion, Intel has seen changes in stakeholder positions, quarterly earnings, and analyst ratings. CEO purchases of company stock indicate confidence in Intel’s future prospects. The company’s diverse product portfolio and global presence contribute to its position in the technology market. Moving forward, investors and analysts will continue to monitor Intel’s performance and strategic decisions closely.

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https://www.defenseworld.net/2024/06/30/intel-co-nasdaqintc-shares-sold-by-independence-bank-of-kentucky.html