W.G. Shaheen & Associates DBA Whitney & Co Sells 700 Shares of Intel Co. (NASDAQ:INTC)

W.G. Shaheen & Associates DBA Whitney & Co cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 24,079 shares of the chip maker’s stock after selling 700 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Intel were worth $565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTC. Hillsdale Investment Management Inc. increased its position in shares of Intel by 29.7% during the first quarter. Hillsdale Investment Management Inc. now owns 6,810 shares of the chip maker’s stock valued at $301,000 after buying an additional 1,560 shares during the period. Bessemer Group Inc. raised its position in shares of Intel by 5.0% in the 1st quarter. Bessemer Group Inc. now owns 97,799 shares of the chip maker’s stock worth $4,320,000 after acquiring an additional 4,692 shares in the last quarter. Lake Street Advisors Group LLC lifted its stake in shares of Intel by 27.4% in the 1st quarter. Lake Street Advisors Group LLC now owns 33,767 shares of the chip maker’s stock valued at $1,491,000 after purchasing an additional 7,264 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Intel in the first quarter worth $7,039,000. Finally, Pitcairn Co. grew its stake in Intel by 3.2% in the first quarter. Pitcairn Co. now owns 38,143 shares of the chip maker’s stock worth $1,685,000 after purchasing an additional 1,195 shares during the period. Institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INTC. Barclays lowered their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. StockNews.com lowered shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a report on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Finally, Hsbc Global Res lowered Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.12.

Intel Stock Up 2.0 %

INTC stock opened at $24.84 on Tuesday. The business’s 50-day moving average price is $22.80 and its 200-day moving average price is $26.26. The stock has a market cap of $107.13 billion, a P/E ratio of -6.68 and a beta of 1.03. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm 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 quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.28 EPS. On average, equities research analysts forecast that Intel Co. will post -0.83 EPS for the current 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.