Atomi Financial Group Inc. Cuts Stock Position in Intel Co. (NASDAQ:INTC)

Atomi Financial Group Inc. lessened its holdings in Intel Co. (NASDAQ:INTC) by 22.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,149 shares of the chip maker’s stock after selling 5,936 shares during the period. Atomi Financial Group Inc.’s holdings in Intel were worth $473,000 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 the stock. America First Investment Advisors LLC bought a new stake in shares of Intel in the second quarter valued at about $25,000. Tributary Capital Management LLC acquired a new stake in shares of Intel during the first quarter worth about $27,000. Cyrus J. Lawrence LLC purchased a new position in shares of Intel during the second quarter worth $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel in the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. purchased a new position in Intel in the second quarter valued at $32,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were purchased at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

Intel Trading Down 1.0 %

Shares of INTC stock opened at $23.22 on Friday. The stock has a market cap of $98.85 billion, a price-to-earnings ratio of 24.19 and a beta of 1.03. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The firm’s 50 day moving average price is $21.19 and its two-hundred day moving average price is $29.04.

Intel (NASDAQ:INTC) last issued its quarterly earnings results 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). Intel had a return on equity of 1.78% and a net margin of 1.77%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter last year, the firm posted ($0.05) EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. On average, analysts anticipate that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.15%. Intel’s dividend payout ratio (DPR) is 52.08%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Mizuho cut shares of Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $22.00 in a research report on Thursday, August 8th. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald decreased their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $31.96.

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.