Corebridge Financial Inc. Sells 35,523 Shares of Intel Co. (NASDAQ:INTC)

Corebridge Financial Inc. reduced its holdings in Intel Co. (NASDAQ:INTC) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,341,417 shares of the chip maker’s stock after selling 35,523 shares during the period. Corebridge Financial Inc.’s holdings in Intel were worth $26,895,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Angeles Investment Advisors LLC increased its holdings in Intel by 21.3% during the fourth quarter. Angeles Investment Advisors LLC now owns 17,918 shares of the chip maker’s stock worth $359,000 after buying an additional 3,143 shares during the last quarter. Mountain Hill Investment Partners Corp. acquired a new position in shares of Intel during the 4th quarter worth about $2,702,000. Vanguard Group Inc. raised its holdings in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. Mizuho Markets Cayman LP lifted its stake in Intel by 16.3% in the 4th quarter. Mizuho Markets Cayman LP now owns 57,052 shares of the chip maker’s stock valued at $1,144,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Harbor Advisors LLC grew its holdings in Intel by 222.2% during the fourth quarter. Harbor Advisors LLC now owns 29,000 shares of the chip maker’s stock worth $581,000 after purchasing an additional 20,000 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Stock Performance

Intel stock opened at $24.26 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a market cap of $105.05 billion, a PE ratio of -5.54 and a beta of 1.02. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41. The business’s 50-day moving average price is $21.95 and its two-hundred day moving average price is $22.01.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INTC. Wells Fargo & Company dropped their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Stifel Nicolaus cut their price target on Intel from $25.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Truist Financial reduced their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. UBS Group dropped their price objective on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Finally, Barclays reduced their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.04.

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.