Stonegate Investment Group LLC Reduces Holdings in Intel Co. (NASDAQ:INTC)

Stonegate Investment Group LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 97.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 47,548 shares of the chip maker’s stock after selling 2,155,141 shares during the quarter. Stonegate Investment Group LLC’s holdings in Intel were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of INTC. V Square Quantitative Management LLC lifted its position in shares of Intel by 25.1% during the third quarter. V Square Quantitative Management LLC now owns 88,765 shares of the chip maker’s stock worth $2,082,000 after purchasing an additional 17,816 shares during the last quarter. Onyx Bridge Wealth Group LLC lifted its position in shares of Intel by 48.4% during the third quarter. Onyx Bridge Wealth Group LLC now owns 27,981 shares of the chip maker’s stock worth $656,000 after purchasing an additional 9,121 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Intel by 6.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 858,374 shares of the chip maker’s stock worth $20,137,000 after purchasing an additional 49,193 shares during the last quarter. Ballast Inc. lifted its position in shares of Intel by 10.5% during the third quarter. Ballast Inc. now owns 33,851 shares of the chip maker’s stock worth $794,000 after purchasing an additional 3,228 shares during the last quarter. Finally, Sweet Financial Partners LLC lifted its position in shares of Intel by 20.9% during the third quarter. Sweet Financial Partners LLC now owns 33,045 shares of the chip maker’s stock worth $775,000 after purchasing an additional 5,702 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at approximately $765,576. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on INTC. Roth Mkm decreased their target price on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group decreased their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday. TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. StockNews.com downgraded Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $31.92.

Intel Price Performance

Shares of INTC stock opened at $22.77 on Friday. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm has a market capitalization of $96.93 billion, a price-to-earnings ratio of 23.72 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock’s 50-day simple moving average is $21.40 and its 200-day simple moving average is $28.14.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share 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 analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. Intel’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, equities analysts forecast that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.20%. Intel’s dividend payout ratio is currently 52.08%.

Intel Company Profile

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.