PNC Financial Services Group Inc. Sells 711,000 Shares of Intel Co. (NASDAQ:INTC)

PNC Financial Services Group Inc. decreased its holdings in Intel Co. (NASDAQ:INTC) by 13.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,563,034 shares of the chip maker’s stock after selling 711,000 shares during the quarter. PNC Financial Services Group Inc. owned 0.11% of Intel worth $91,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Finley Financial LLC purchased a new stake in Intel during the 4th quarter valued at approximately $25,000. Synergy Investment Management LLC bought a new stake in Intel in the fourth quarter worth $27,000. BankPlus Trust Department purchased a new stake in Intel in the 4th quarter worth about $28,000. Keystone Financial Group Inc. purchased a new stake in shares of Intel in the fourth quarter worth approximately $29,000. Finally, Quest Partners LLC lifted its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares during the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INTC has been the topic of a number of recent research reports. Stifel Nicolaus dropped their price target on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. lowered their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Citigroup decreased their price target on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Tuesday, January 21st. Rosenblatt Securities reaffirmed a “sell” rating and set a $20.00 target price on shares of Intel in a report on Thursday, January 30th. Finally, HSBC raised shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $26.88.

Intel Stock Performance

Intel stock opened at $20.64 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $46.63. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The stock has a 50-day simple moving average of $21.30 and a 200 day simple moving average of $21.81. The stock has a market capitalization of $89.37 billion, a price-to-earnings ratio of -4.71 and a beta of 1.02.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, research analysts anticipate that Intel Co. will post -0.11 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.