Peapack Gladstone Financial Corp Sells 77,654 Shares of Intel Co. (NASDAQ:INTC)

Peapack Gladstone Financial Corp reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 23.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 252,899 shares of the chip maker’s stock after selling 77,654 shares during the period. Peapack Gladstone Financial Corp’s holdings in Intel were worth $5,071,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC raised its position in Intel by 211.6% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock valued at $579,000 after purchasing an additional 19,625 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Empirical Asset Management LLC bought a new stake in shares of Intel during the fourth quarter worth about $276,000. Finally, InvesTrust acquired a new position in shares of Intel in the fourth quarter valued at approximately $3,696,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho dropped their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. JPMorgan Chase & Co. reduced their price target on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Citigroup decreased their price target on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Rosenblatt Securities reaffirmed a “sell” rating and issued a $20.00 price objective on shares of Intel in a research note on Thursday, January 30th. Finally, Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and increased their target price for the company from $19.00 to $25.00 in a research report on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Intel has an average rating of “Hold” and a consensus target price of $25.58.

Intel Stock Performance

INTC opened at $19.85 on Monday. The company has a market cap of $86.56 billion, a price-to-earnings ratio of -4.53 and a beta of 1.13. The company’s fifty day moving average price is $22.36 and its two-hundred day moving average price is $22.21. Intel Co. has a 1-year low of $18.51 and a 1-year high of $38.86. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, analysts expect that Intel Co. will post -0.11 EPS for the current fiscal 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.