Marathon Strategic Advisors LLC Cuts Stock Position in Intel Co. (NASDAQ:INTC)

Marathon Strategic Advisors LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 3.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 64,268 shares of the chip maker’s stock after selling 2,589 shares during the period. Intel comprises 1.6% of Marathon Strategic Advisors LLC’s investment portfolio, making the stock its 18th largest position. Marathon Strategic Advisors LLC’s holdings in Intel were worth $1,508,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Adirondack Trust Co. increased its stake in Intel by 0.5% during the 1st quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock valued at $2,287,000 after purchasing an additional 278 shares in the last quarter. Abacus Wealth Partners LLC increased its position in shares of Intel by 6.7% in the 1st quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock valued at $201,000 after acquiring an additional 286 shares during the period. First Affirmative Financial Network raised its stake in Intel by 1.8% in the 1st quarter. First Affirmative Financial Network now owns 16,608 shares of the chip maker’s stock worth $734,000 after acquiring an additional 299 shares during the last quarter. VERITY Wealth Advisors lifted its position in Intel by 3.8% during the 1st quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock worth $373,000 after acquiring an additional 312 shares during the period. Finally, Mechanics Bank Trust Department grew its stake in Intel by 0.8% during the 1st quarter. Mechanics Bank Trust Department now owns 38,540 shares of the chip maker’s stock valued at $1,702,000 after purchasing an additional 320 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 target price on shares of Intel in a report on Friday, August 2nd. Morgan Stanley decreased their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lowered their price target on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Finally, Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Intel currently has an average rating of “Hold” and a consensus price target of $31.96.

Intel Price Performance

Shares of NASDAQ INTC traded down $0.21 during mid-day trading on Monday, reaching $22.38. The company’s stock had a trading volume of 54,817,804 shares, compared to its average volume of 59,285,086. The stock has a 50-day moving average of $21.64 and a two-hundred day moving average of $29.35. 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 has a market capitalization of $95.27 billion, a P/E ratio of 23.24 and a beta of 1.03. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last released 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 analyst estimates of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.05) EPS. On average, equities research analysts anticipate that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

Insider Buying and Selling at Intel

In other news, CEO Patrick P. Gelsinger bought 12,500 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 0.04% of the stock is owned by company insiders.

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.