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

Peapack Gladstone Financial Corp cut its holdings in Intel Co. (NASDAQ:INTC) by 23.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 252,899 shares of the chip maker’s stock after selling 77,654 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Intel were worth $5,071,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Norges Bank bought a new stake in shares of Intel during the fourth quarter worth $1,246,569,000. Assenagon Asset Management S.A. increased its holdings in Intel by 264.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock worth $393,323,000 after purchasing an additional 14,227,458 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Intel by 4.6% in the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Intel during the fourth quarter worth about $53,465,000. 64.53% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

INTC has been the topic of several research reports. Barclays cut their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. UBS Group reduced their price objective on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $25.58.

Intel Stock Down 11.5 %

INTC opened at $19.85 on Monday. The stock has a fifty day moving average of $22.36 and a 200-day moving average of $22.21. The company has a market capitalization of $86.56 billion, a P/E ratio of -4.53 and a beta of 1.13. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $38.86. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 return on equity of 3.27% and a negative net margin of 35.32%. On average, equities analysts expect that Intel Co. will post -0.11 EPS for the current 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.