PNC Financial Services Group Inc. Has $91.49 Million Stock Position in Intel Co. (NASDAQ:INTC)

PNC Financial Services Group Inc. reduced its position in shares of Intel Co. (NASDAQ:INTC) by 13.5% in the 4th quarter, Holdings Channel reports. The firm owned 4,563,034 shares of the chip maker’s stock after selling 711,000 shares during the period. PNC Financial Services Group Inc.’s holdings in Intel were worth $91,489,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of INTC. State Street Corp boosted its stake in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC boosted its stake in 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 acquiring an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Intel by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock worth $680,472,000 after purchasing an additional 2,248,342 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Intel by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 30,616,197 shares of the chip maker’s stock valued at $613,855,000 after buying an additional 86,483 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on INTC shares. JPMorgan Chase & Co. reduced their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Rosenblatt Securities reaffirmed a “sell” rating and set a $20.00 price objective on shares of Intel in a research note on Thursday, January 30th. Truist Financial decreased their target price on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Finally, Bank of America restated an “underperform” rating and set a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.88.

Intel Stock Down 0.5 %

Intel stock opened at $20.64 on Friday. The stock’s fifty day moving average is $21.30 and its two-hundred day moving average is $21.81. The stock has a market cap of $89.37 billion, a PE ratio of -4.71 and a beta of 1.02. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last announced 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 3.27% and a negative net margin of 35.32%. On average, sell-side analysts expect that Intel Co. will post -0.11 EPS 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.