Kathmere Capital Management LLC Sells 3,417 Shares of Intel Co. (NASDAQ:INTC)

Kathmere Capital Management LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 27.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 8,957 shares of the chip maker’s stock after selling 3,417 shares during the quarter. Kathmere Capital Management LLC’s holdings in Intel were worth $277,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new stake in Intel in the 2nd quarter valued at about $25,000. Tributary Capital Management LLC purchased a new stake in Intel in the 1st quarter valued at about $27,000. Cyrus J. Lawrence LLC purchased a new stake in Intel in the 2nd quarter valued at about $27,000. Spartan Fund Management Inc. purchased a new stake in Intel in the 2nd quarter valued at about $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Intel in the 2nd quarter valued at about $32,000. 64.53% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of Intel stock in a transaction that occurred on Monday, August 5th. The stock was purchased 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 directly owns 37,975 shares in the company, valued at approximately $765,576. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Intel Trading Down 0.0 %

NASDAQ:INTC opened at $23.91 on Friday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The firm has a fifty day simple moving average of $22.58 and a 200-day simple moving average of $30.14. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $101.78 billion, a P/E ratio of 24.91 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down .8% on a year-over-year basis. On average, equities research analysts anticipate that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.125 per share. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.09%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on INTC shares. UBS Group lowered their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. The Goldman Sachs Group dropped their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. New Street Research downgraded shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Wedbush dropped their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald dropped their price objective on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Six equities research 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 company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $32.04.

Intel 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.