Intel Co. (NASDAQ:INTC) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 51.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,629 shares of the chip maker’s stock after selling 24,126 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Intel were worth $454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of INTC. Dunhill Financial LLC raised its stake in Intel by 22.6% during the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after acquiring an additional 438 shares in the last quarter. MKT Advisors LLC increased its position in shares of Intel by 4.8% during the third quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock worth $241,000 after purchasing an additional 490 shares in the last quarter. Beaton Management Co. Inc. lifted its holdings in shares of Intel by 2.2% in the 3rd quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after purchasing an additional 500 shares during the last quarter. Everpar Advisors LLC boosted its position in shares of Intel by 5.1% in the 3rd quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock valued at $242,000 after purchasing an additional 504 shares during the period. Finally, Missouri Trust & Investment Co increased its position in Intel by 3.6% during the fourth quarter. Missouri Trust & Investment Co now owns 15,650 shares of the chip maker’s stock worth $314,000 after buying an additional 550 shares during the period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

INTC has been the subject of several research analyst reports. HSBC raised Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a report on Friday, October 25th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Northland Securities decreased their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Barclays decreased their price target on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a 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, the stock presently has a consensus rating of “Hold” and an average price target of $27.88.

Insider Buying and Selling

In related 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 transaction of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

Intel Stock Performance

Intel stock opened at $19.80 on Wednesday. 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 fifty-two week low of $18.51 and a fifty-two week high of $46.63. The stock has a fifty day moving average of $21.14 and a two-hundred day moving average of $22.76. The company has a market capitalization of $85.40 billion, a price-to-earnings ratio of -5.32, a PEG ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC) last released its 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). The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter last year, the company posted $0.28 earnings per share. On average, analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

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.