Cornerstone Wealth Group LLC Sells 16,979 Shares of Intel Co. (NASDAQ:INTC)

Cornerstone Wealth Group LLC reduced its holdings in Intel Co. (NASDAQ:INTC) by 57.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,532 shares of the chip maker’s stock after selling 16,979 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Intel were worth $251,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Finley Financial LLC bought a new position in shares of Intel in the fourth quarter worth approximately $25,000. Quest Partners LLC increased its holdings in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the last quarter. West Financial Advisors LLC purchased a new stake in shares of Intel during the 4th quarter valued at $31,000. Groupama Asset Managment lifted its holdings in shares of Intel by 6.3% during the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after acquiring an additional 8,084 shares during the last quarter. Finally, Sawyer & Company Inc purchased a new position in Intel in the fourth quarter worth $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated 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 transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $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 accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INTC. HSBC raised Intel from a “reduce” rating to a “hold” rating in a research note on Tuesday, January 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Truist Financial lifted their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Citigroup cut their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Robert W. Baird lifted their target price on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $27.88.

Intel Stock Down 2.6 %

Shares of Intel stock opened at $20.29 on Tuesday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $46.63. 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 company has a 50-day moving average of $21.23 and a 200 day moving average of $22.85. The firm has a market cap of $87.51 billion, a price-to-earnings ratio of -5.45, a PEG ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC) last released 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). The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 earnings per share. As a group, sell-side analysts anticipate that Intel Co. will post -0.87 earnings per share for the current fiscal year.

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.