Altus Wealth Group LLC Buys 2,605 Shares of Intel Co. (NASDAQ:INTC)

Altus Wealth Group LLC boosted its holdings in shares of Intel Co. (NASDAQ:INTC) by 9.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,447 shares of the chip maker’s stock after acquiring an additional 2,605 shares during the period. Altus Wealth Group LLC’s holdings in Intel were worth $691,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. America First Investment Advisors LLC bought a new position in Intel during the second quarter worth about $25,000. Tributary Capital Management LLC bought a new position in Intel during the first quarter worth about $27,000. Cyrus J. Lawrence LLC bought a new stake in shares of Intel in the second quarter valued at about $27,000. Spartan Fund Management Inc. bought a new stake in shares of Intel in the second quarter valued at about $31,000. Finally, Financial Connections Group Inc. bought a new stake in shares of Intel in the second quarter valued at about $32,000. 64.53% of the stock is currently owned by institutional investors.

Insider Activity

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

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INTC shares. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft cut their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. New Street Research downgraded Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Finally, Argus downgraded Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Intel presently has a consensus rating of “Hold” and an average price target of $31.92.

Intel Stock Performance

Shares of INTC stock traded down $0.16 during trading hours on Wednesday, hitting $22.24. The company’s stock had a trading volume of 7,909,101 shares, compared to its average volume of 58,448,871. The company has a 50 day moving average of $21.51 and a 200 day moving average of $27.71. The stock has a market cap of $94.68 billion, a PE ratio of 23.33 and a beta of 1.03. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28.

Intel (NASDAQ:INTC) last announced 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 firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. During the same period last year, the company posted ($0.05) earnings per share. The business’s quarterly revenue was down .8% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is 52.08%.

Intel Company 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.