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

by · The Markets Daily

Stonegate Investment Group LLC lessened its stake in Intel Co. (NASDAQ:INTC – Free Report) by 97.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of INTC. William B. Walkup & Associates Inc. purchased a new position in Intel in the 2nd quarter worth about $2,178,000. Private Advisory Group LLC purchased a new position in Intel in the 3rd quarter worth about $8,045,000. Brookstone Capital Management raised its position in Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after buying an additional 27,274 shares during the last quarter. Sanibel Captiva Trust Company Inc. raised its position in Intel by 21.1% in the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after buying an additional 48,765 shares during the last quarter. Finally, Czech National Bank raised its position in Intel by 7.2% in the 3rd quarter. Czech National Bank now owns 869,233 shares of the chip maker’s stock worth $20,392,000 after buying an additional 58,021 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Up 1.5 %

INTC stock opened at $22.77 on Friday. The firm has a fifty day moving average price of $21.40 and a 200 day moving average price of $28.14. 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 cap of $96.93 billion, a PE 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.

Intel (NASDAQ:INTC – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The business had revenue of $12.80 billion during 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%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. Sell-side analysts anticipate that Intel Co. will post -0.47 earnings per share for the current fiscal year.

Intel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. The ex-dividend date 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 (DPR) is presently 52.08%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on INTC shares. 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. Raymond James lowered shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Barclays reduced their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $31.92.

Get Our Latest Research Report on INTC

Insider Activity

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.04% of the company’s stock.

Intel Company Profile

(Free Report)

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.

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