Intel Co. (NASDAQ:INTC) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC cut its position in Intel Co. (NASDAQ:INTC) by 14.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,600 shares of the chip maker’s stock after selling 7,297 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Intel were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in shares of Intel by 2.3% during the second quarter. The Manufacturers Life Insurance Company now owns 3,298,169 shares of the chip maker’s stock worth $102,144,000 after acquiring an additional 75,685 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Intel by 15.2% in the second quarter. Mackenzie Financial Corp now owns 1,585,764 shares of the chip maker’s stock valued at $49,111,000 after purchasing an additional 208,771 shares during the last quarter. Beaird Harris Wealth Management LLC grew its stake in Intel by 52.5% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,792 shares of the chip maker’s stock valued at $55,000 after purchasing an additional 617 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in Intel during the 2nd quarter worth approximately $32,795,000. Finally, Oliver Lagore Vanvalin Investment Group raised its position in shares of Intel by 14.1% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 6,256 shares of the chip maker’s stock valued at $194,000 after purchasing an additional 771 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

Shares of NASDAQ INTC opened at $20.83 on Friday. The firm’s 50-day simple moving average is $21.23 and its 200 day simple moving average is $23.02. The stock has a market cap of $89.84 billion, a P/E ratio of -5.60, a P/E/G ratio of 9.72 and a beta of 1.07. 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 fifty-two week low of $18.51 and a fifty-two week high of $50.30.

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

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Bank of America reissued an “underperform” rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price target (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Citigroup lowered their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.81.

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.