Sumitomo Life Insurance Co. Sells 721 Shares of Intel Co. (NASDAQ:INTC)

Sumitomo Life Insurance Co. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 3.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,416 shares of the chip maker’s stock after selling 721 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Intel were worth $389,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new position in Intel in the fourth quarter worth $123,000. Twelve Points Wealth Management LLC boosted its position in shares of Intel by 52.2% in the 4th quarter. Twelve Points Wealth Management LLC now owns 38,499 shares of the chip maker’s stock worth $772,000 after purchasing an additional 13,197 shares in the last quarter. Orca Wealth Management LLC purchased a new position in Intel during the 4th quarter worth $1,329,000. BSW Wealth Partners increased its position in Intel by 44.2% during the 4th quarter. BSW Wealth Partners now owns 60,909 shares of the chip maker’s stock valued at $1,221,000 after buying an additional 18,668 shares in the last quarter. Finally, Prospect Financial Services LLC raised its stake in Intel by 32.7% in the fourth quarter. Prospect Financial Services LLC now owns 15,643 shares of the chip maker’s stock valued at $314,000 after buying an additional 3,858 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Stock Up 1.3 %

Intel stock opened at $20.01 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a market capitalization of $86.30 billion, a PE ratio of -5.38, a price-to-earnings-growth ratio of 9.72 and a beta of 1.07. The business has a 50 day simple moving average of $20.97 and a 200-day simple moving average of $22.63. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. On average, analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the topic of a number of research analyst reports. UBS Group dropped their price target on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Robert W. Baird upped their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Stifel Nicolaus reiterated 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. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Barclays lowered their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $28.00.

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.