Axiom Advisory LLC Sells 25,622 Shares of Intel Co. (NASDAQ:INTC)

Axiom Advisory LLC trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 31.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,104 shares of the chip maker’s stock after selling 25,622 shares during the period. Axiom Advisory LLC’s holdings in Intel were worth $1,376,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Adirondack Trust Co. raised its position in Intel by 0.5% in the first quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock worth $2,287,000 after acquiring an additional 278 shares during the period. Abacus Wealth Partners LLC increased its stake in shares of Intel by 6.7% during the 1st quarter. Abacus Wealth Partners LLC now owns 4,542 shares of the chip maker’s stock worth $201,000 after purchasing an additional 286 shares during the last quarter. First Affirmative Financial Network raised its holdings in shares of 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 purchasing an additional 299 shares during the period. VERITY Wealth Advisors lifted its stake in Intel by 3.8% in the first quarter. VERITY Wealth Advisors now owns 8,448 shares of the chip maker’s stock valued at $373,000 after purchasing an additional 312 shares during the last quarter. Finally, Mechanics Bank Trust Department lifted its stake in Intel by 0.8% in the first 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. 64.53% of the stock is owned by institutional investors.

Intel Stock Performance

NASDAQ INTC opened at $23.32 on Wednesday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a fifty day moving average of $21.47 and a 200-day moving average of $29.21. The company has a market capitalization of $99.27 billion, a P/E ratio of 24.29 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) last issued its quarterly 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). The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The company’s revenue for the quarter was down .8% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. As a group, equities research analysts predict that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared 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. This represents a $0.50 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

INTC has been the subject of a number of recent research reports. TD Cowen raised Intel to a “hold” rating in a research report on Monday, September 16th. Daiwa America upgraded Intel to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. dropped their price objective on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Finally, Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research note 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Intel presently has an average rating of “Hold” and an average target price of $31.96.

Insiders Place Their Bets

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was bought at an average price of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.04% of the company’s stock.

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.