Alecta Tjanstepension Omsesidigt Sells 500,000 Shares of Intel Co. (NASDAQ:INTC)

Alecta Tjanstepension Omsesidigt reduced its holdings in Intel Co. (NASDAQ:INTC) by 8.6% during the 4th quarter, HoldingsChannel reports. The firm owned 5,329,600 shares of the chip maker’s stock after selling 500,000 shares during the quarter. Alecta Tjanstepension Omsesidigt’s holdings in Intel were worth $106,912,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Proficio Capital Partners LLC acquired a new stake in shares of Intel during the 4th quarter worth approximately $1,789,000. Kovack Advisors Inc. lifted its holdings in Intel by 50.3% during the 4th quarter. Kovack Advisors Inc. now owns 76,185 shares of the chip maker’s stock valued at $1,528,000 after purchasing an additional 25,511 shares during the last quarter. FUKOKU MUTUAL LIFE INSURANCE Co boosted its holdings in shares of Intel by 6.6% in the 4th quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 18,815 shares of the chip maker’s stock worth $377,000 after acquiring an additional 1,161 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Intel by 3.3% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 1,673,600 shares of the chip maker’s stock worth $33,556,000 after purchasing an additional 53,000 shares during the last quarter. Finally, New York Life Investment Management LLC lifted its position in Intel by 1.3% during the 4th quarter. New York Life Investment Management LLC now owns 669,836 shares of the chip maker’s stock worth $13,430,000 after buying an additional 8,412 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on INTC. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Roth Mkm decreased their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Citigroup dropped their target price on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. Finally, Bank of America reiterated an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.88.

Intel Stock Performance

Shares of INTC stock opened at $23.52 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The company has a fifty day moving average price of $21.04 and a two-hundred day moving average price of $21.74. The stock has a market cap of $101.84 billion, a P/E ratio of -5.37 and a beta of 1.08. Intel Co. has a one year low of $18.51 and a one year high of $46.63.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) 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%. As a group, equities analysts predict that Intel Co. will post -0.11 EPS for the current year.

About Intel

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.