Grimes & Company Inc. Sells 19,284 Shares of Intel Co. (NASDAQ:INTC)

Grimes & Company Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 18.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 84,700 shares of the chip maker’s stock after selling 19,284 shares during the period. Grimes & Company Inc.’s holdings in Intel were worth $1,698,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of INTC. Finley Financial LLC purchased a new stake in Intel in the fourth quarter worth $25,000. Quest Partners LLC grew its stake in shares of Intel by 7,370.6% during the 3rd 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 during the period. West Financial Advisors LLC purchased a new stake in Intel in the 4th quarter worth about $31,000. Groupama Asset Managment raised its stake in Intel by 6.3% in the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after acquiring an additional 8,084 shares during the period. Finally, Sawyer & Company Inc purchased a new stake in Intel during the fourth quarter valued at about $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.04% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on INTC shares. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Bank of America reissued an “underperform” rating and set a $21.00 target price on shares of Intel in a report on Tuesday, December 3rd. The Goldman Sachs Group cut their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Benchmark reiterated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Five 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $28.81.

Intel Trading Down 3.4 %

INTC stock opened at $20.83 on Friday. The company has a market capitalization of $89.84 billion, a PE ratio of -5.60, a price-to-earnings-growth ratio of 9.72 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a one year low of $18.51 and a one year high of $50.30. The company’s 50 day moving average price is $21.23 and its two-hundred day moving average price is $23.02.

Intel (NASDAQ:INTC) last issued its 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, analysts predict 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.