Sovereign Financial Group Inc. Decreases Stock Position in Intel Co. (NASDAQ:INTC)

Sovereign Financial Group Inc. trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 14.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,132 shares of the chip maker’s stock after selling 2,064 shares during the quarter. Sovereign Financial Group Inc.’s holdings in Intel were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Intel by 28.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp boosted its position in shares of Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Intel by 224.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after buying an additional 7,207,785 shares during the last quarter. State Street Corp raised its holdings in shares of Intel by 2.8% in the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after buying an additional 5,417,753 shares during the period. Finally, Caxton Associates LP bought a new stake in shares of Intel during the 2nd quarter worth approximately $162,592,000. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the company. Bank of America reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Robert W. Baird raised their price target on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Mizuho decreased their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, January 10th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $29.96.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Up 2.7 %

NASDAQ:INTC opened at $19.72 on Thursday. The company’s 50 day moving average is $21.89 and its two-hundred day moving average is $23.49. The company has a market cap of $85.05 billion, a PE ratio of -5.30 and a beta of 1.07. Intel Co. has a twelve month low of $18.51 and a twelve month high of $50.30. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates 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 was down 6.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.28 earnings per share. Analysts anticipate that Intel Co. will post -0.87 EPS for the current 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.