Private Trust Co. NA Sells 9,826 Shares of Intel Co. (NASDAQ:INTC)

Private Trust Co. NA trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 27.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,737 shares of the chip maker’s stock after selling 9,826 shares during the quarter. Private Trust Co. NA’s holdings in Intel were worth $604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTC. America First Investment Advisors LLC bought a new stake in shares of Intel during the second quarter worth $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel during the 2nd quarter valued at about $27,000. Quest Partners LLC boosted its position in Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares during the period. Spartan Fund Management Inc. bought a new position in Intel in the 2nd quarter worth about $31,000. Finally, Financial Connections Group Inc. purchased a new position in shares of Intel during the second quarter worth approximately $32,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research reports. Susquehanna lowered their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group dropped their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. TD Cowen raised shares of Intel to a “hold” rating in a research note on Monday, September 16th. Finally, Barclays cut their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Intel currently has an average rating of “Hold” and an average price target of $30.12.

Intel Stock Down 3.3 %

Intel stock opened at $24.05 on Wednesday. The business’s 50-day moving average price is $23.32 and its 200 day moving average price is $26.00. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm has a market cap of $103.73 billion, a price-to-earnings ratio of -6.47 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 EPS. As a group, sell-side analysts anticipate that Intel Co. will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.