Citizens Financial Group Inc. RI Cuts Stock Position in Intel Co. (NASDAQ:INTC)

Citizens Financial Group Inc. RI trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 31.3% in the third quarter, HoldingsChannel.com reports. The fund owned 47,509 shares of the chip maker’s stock after selling 21,605 shares during the period. Citizens Financial Group Inc. RI’s holdings in Intel were worth $1,115,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. America First Investment Advisors LLC acquired a new position in shares of Intel in the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel in the 2nd quarter valued at approximately $27,000. Quest Partners LLC grew its stake in shares of Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the second quarter worth $31,000. Finally, Financial Connections Group Inc. acquired a new stake in shares of Intel in the second quarter valued at $32,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

NASDAQ:INTC opened at $24.50 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The firm has a market cap of $105.67 billion, a price-to-earnings ratio of -6.59 and a beta of 1.03. The firm’s fifty day moving average price is $23.19 and its 200 day moving average price is $26.14. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 during the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the previous year, the firm earned $0.28 EPS. The firm’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that Intel Co. will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently commented on INTC shares. Benchmark reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. New Street Research lowered shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Argus downgraded shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Morgan Stanley dropped their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.12.

Insider Buying and Selling at Intel

In other Intel 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 value of $650,000.00. Following the completion of the transaction, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by corporate insiders.

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.