Hazlett Burt & Watson Inc. Sells 3,963 Shares of Intel Co. (NASDAQ:INTC)

Hazlett Burt & Watson Inc. lessened its position in shares of Intel Co. (NASDAQ:INTC) by 19.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,807 shares of the chip maker’s stock after selling 3,963 shares during the period. Hazlett Burt & Watson Inc.’s holdings in Intel were worth $393,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the second quarter worth $2,178,000. Fortis Group Advisors LLC increased its stake in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after buying an additional 157,991 shares during the last quarter. Private Advisory Group LLC bought a new stake in Intel during the 3rd quarter worth about $8,045,000. Sanibel Captiva Trust Company Inc. boosted its stake in shares of Intel by 21.1% during the 3rd quarter. Sanibel Captiva Trust Company Inc. now owns 279,591 shares of the chip maker’s stock worth $6,559,000 after buying an additional 48,765 shares during the last quarter. Finally, Forsta AP Fonden grew its holdings in shares of Intel by 4.6% in the 3rd quarter. Forsta AP Fonden now owns 949,146 shares of the chip maker’s stock valued at $22,267,000 after acquiring an additional 41,900 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. HSBC cut Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Morgan Stanley cut their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. Barclays cut their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Finally, Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Intel presently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

Intel stock traded down $0.58 during mid-day trading on Monday, reaching $22.62. 35,130,590 shares of the company were exchanged, compared to its average volume of 59,273,855. The firm has a market cap of $96.72 billion, a PE ratio of -6.09 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The company has a fifty day simple moving average of $21.79 and a 200-day simple moving average of $26.90. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.68% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the previous year, the business posted $0.28 EPS. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities research analysts expect that Intel Co. will post -0.47 earnings per share for the current fiscal year.

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.