Intel Co. (NASDAQ:INTC) Shares Sold by Abacus Planning Group Inc.

Abacus Planning Group Inc. lowered its position in shares of Intel Co. (NASDAQ:INTC) by 9.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 18,609 shares of the chip maker’s stock after selling 1,892 shares during the period. Abacus Planning Group Inc.’s holdings in Intel were worth $373,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. State Street Corp increased its stake in Intel by 2.8% in the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its position in Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Intel by 28.2% during the third 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 purchasing an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Intel by 27.2% during 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 buying an additional 9,422,136 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Intel by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after purchasing an additional 2,248,332 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the topic of a number of recent analyst reports. UBS Group cut their price objective on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Robert W. Baird increased 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 lowered their price target on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Bank of America reissued an “underperform” rating and issued a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. Finally, Truist Financial cut their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.88.

Intel Trading Down 6.1 %

Shares of NASDAQ INTC opened at $25.72 on Thursday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $46.63. The company’s fifty day moving average is $20.53 and its 200-day moving average is $21.56. The stock has a market cap of $111.37 billion, a price-to-earnings ratio of -5.87 and a beta of 1.08. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

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

Intel 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.