126,754 Shares in Intel Co. (NASDAQ:INTC) Bought by Allstate Corp

Allstate Corp acquired a new stake in Intel Co. (NASDAQ:INTC) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 126,754 shares of the chip maker’s stock, valued at approximately $2,541,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Finley Financial LLC acquired a new stake in shares of Intel during the fourth quarter worth $25,000. Synergy Investment Management LLC acquired a new stake in shares of Intel in the 4th quarter worth $27,000. BankPlus Trust Department purchased a new stake in shares of Intel in the fourth quarter valued at about $28,000. Keystone Financial Group Inc. acquired a new position in shares of Intel during the fourth quarter worth about $29,000. Finally, Quest Partners LLC raised its holdings in 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 in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on INTC shares. JPMorgan Chase & Co. lowered their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. UBS Group dropped their price objective on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a report on Tuesday, January 21st. Wells Fargo & Company cut their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, January 31st. Mizuho decreased their target price on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Finally, HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, twenty-eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Stock Down 3.9 %

INTC stock opened at $22.71 on Friday. The company has a 50 day moving average price of $22.33 and a two-hundred day moving average price of $22.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The stock has a market capitalization of $98.33 billion, a P/E ratio of -5.18 and a beta of 1.02. Intel Co. has a one year low of $18.51 and a one year high of $45.41.

Intel (NASDAQ:INTC) last announced 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%. As a group, sell-side analysts expect that Intel Co. will post -0.11 EPS for the current 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.