Intel Co. (NASDAQ:INTC) Shares Sold by Atwood & Palmer Inc.

Atwood & Palmer Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 86.4% during the fourth quarter, Holdings Channel reports. The fund owned 1,500 shares of the chip maker’s stock after selling 9,500 shares during the quarter. Atwood & Palmer Inc.’s holdings in Intel were worth $30,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in INTC. State Street Corp raised its stake in Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. Geode Capital Management LLC increased its position in shares of Intel by 4.6% in 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 lifted its holdings in shares of Intel by 28.2% during 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 acquiring an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp increased its holdings in Intel by 27.2% in the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Intel by 1.3% in the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The shares were 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 $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.04% of the company’s stock.

Intel Stock Performance

NASDAQ:INTC opened at $21.49 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 12-month low of $18.51 and a 12-month high of $50.30. The business has a 50 day simple moving average of $21.55 and a 200 day simple moving average of $23.27.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) 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 the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.28 EPS. On average, equities analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on INTC shares. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Robert W. Baird upped their target price 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 reaffirmed a “hold” rating and set a $25.00 price target (down from $28.00) on shares of Intel in a report on Friday, October 25th. Finally, Truist Financial boosted their price objective on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.88.

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.