Bruce G. Allen Investments LLC Reduces Position in Intel Co. (NASDAQ:INTC)

Bruce G. Allen Investments LLC reduced its position in Intel Co. (NASDAQ:INTC) by 47.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,438 shares of the chip maker’s stock after selling 1,318 shares during the quarter. Bruce G. Allen Investments LLC’s holdings in Intel were worth $29,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Cyrus J. Lawrence LLC purchased a new position in Intel during the 2nd quarter valued at $27,000. Quest Partners LLC lifted its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of Intel by 6.3% during the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after purchasing an additional 8,084 shares during the period. FSA Wealth Management LLC bought a new position in shares of Intel in the third quarter worth about $34,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Intel in the 2nd quarter worth about $35,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

INTC traded down $0.74 during trading on Friday, reaching $19.14. The company’s stock had a trading volume of 56,323,083 shares, compared to its average volume of 56,641,211. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm has a fifty day simple moving average of $22.12 and a two-hundred day simple moving average of $23.83. The company has a market cap of $82.55 billion, a price-to-earnings ratio of -5.15 and a beta of 1.07. Intel Co. has a 1 year low of $18.51 and a 1 year high of $50.30.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period last year, the firm posted $0.28 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, analysts anticipate that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on INTC. Mizuho decreased 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. Robert W. Baird lifted their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. The Goldman Sachs Group dropped their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Benchmark restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus price target of $29.96.

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.