Asset Dedication LLC Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Asset Dedication LLC reduced its position in shares of Intel Co. (NASDAQ:INTC) by 41.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,365 shares of the chip maker’s stock after selling 34,864 shares during the quarter. Asset Dedication LLC’s holdings in Intel were worth $990,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INTC. Geode Capital Management LLC boosted its holdings in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC raised its position in Intel by 211.6% during the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after purchasing an additional 19,625 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares during the period. Empirical Asset Management LLC purchased a new stake in Intel in the 4th quarter worth approximately $276,000. Finally, Swiss National Bank grew its position in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Down 0.2 %

Intel stock opened at $19.77 on Thursday. Intel Co. has a one year low of $18.51 and a one year high of $46.63. The business’s fifty day moving average is $21.06 and its 200 day moving average is $22.65. The stock has a market capitalization of $85.25 billion, a PE ratio of -5.31, a price-to-earnings-growth ratio of 9.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the previous year, the business earned $0.28 EPS. The business’s revenue was down 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Intel Co. will post -0.87 EPS for the current year.

Analysts Set New Price Targets

INTC has been the subject of a number of recent analyst reports. Barclays decreased their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $27.88.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.04% of the stock is owned by insiders.

Intel 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.