Grove Bank & Trust Cuts Stake in Intel Co. (NASDAQ:INTC)

Grove Bank & Trust trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 16.7% during the fourth quarter, Holdings Channel reports. The fund owned 3,728 shares of the chip maker’s stock after selling 747 shares during the quarter. Grove Bank & Trust’s holdings in Intel were worth $75,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of INTC. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the second quarter worth about $27,000. Quest Partners LLC increased its holdings in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares during the last quarter. West Financial Advisors LLC bought a new stake in Intel in the fourth quarter valued at about $31,000. Groupama Asset Managment increased its holdings in Intel by 6.3% in the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after buying an additional 8,084 shares during the last quarter. Finally, Sawyer & Company Inc bought a new stake in Intel in the fourth quarter valued at about $32,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INTC. Bank of America reissued an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Mizuho decreased their target price on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Barclays decreased their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday. Northland Securities decreased their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Finally, Truist Financial boosted their price objective on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.88.

Insider Activity

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.04% of the stock is currently owned by corporate insiders.

Intel Price Performance

Shares of NASDAQ:INTC opened at $21.49 on Tuesday. The company’s fifty day moving average is $21.55 and its two-hundred day moving average is $23.27. 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 12-month low of $18.51 and a 12-month high of $50.30. The company has a market cap of $92.69 billion, a P/E ratio of -5.78, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm 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 earned $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. Equities analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal 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.