Wesbanco Bank Inc. Has $2.07 Million Position in Intel Co. (NASDAQ:INTC)

Wesbanco Bank Inc. reduced its position in Intel Co. (NASDAQ:INTC) by 17.9% in the 4th quarter, HoldingsChannel reports. The firm owned 103,249 shares of the chip maker’s stock after selling 22,583 shares during the period. Wesbanco Bank Inc.’s holdings in Intel were worth $2,070,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of INTC. Assenagon Asset Management S.A. lifted its position in shares of Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after buying an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. boosted its position in 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 worth $244,302,000 after purchasing an additional 7,207,785 shares during the period. Finally, State Street Corp increased 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 valued at $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. The Goldman Sachs Group reduced their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Robert W. Baird boosted their price objective on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Stifel Nicolaus reiterated a “hold” rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.81.

Intel Stock Down 1.3 %

Shares of NASDAQ INTC opened at $21.57 on Friday. The stock has a 50-day moving average price of $21.37 and a two-hundred day moving average price of $23.12. Intel Co. has a 12 month low of $18.51 and a 12 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. The company has a market cap of $93.03 billion, a price-to-earnings ratio of -5.80, a PEG ratio of 9.59 and a beta of 1.07.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the company earned $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.04% of the stock is owned by corporate insiders.

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.