Intel Co. (NASDAQ:INTC) Shares Sold by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,600 shares of the chip maker’s stock after selling 7,297 shares during the period. Cornerstone Wealth Management LLC’s holdings in Intel were worth $854,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Intel by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 3,298,169 shares of the chip maker’s stock valued at $102,144,000 after buying an additional 75,685 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Intel by 15.2% in the second quarter. Mackenzie Financial Corp now owns 1,585,764 shares of the chip maker’s stock valued at $49,111,000 after acquiring an additional 208,771 shares during the period. Beaird Harris Wealth Management LLC boosted its position in shares of Intel by 52.5% during the 2nd quarter. Beaird Harris Wealth Management LLC now owns 1,792 shares of the chip maker’s stock worth $55,000 after purchasing an additional 617 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of Intel during the 2nd quarter worth $32,795,000. Finally, Oliver Lagore Vanvalin Investment Group increased its holdings in shares of Intel by 14.1% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 6,256 shares of the chip maker’s stock valued at $194,000 after purchasing an additional 771 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Trading Down 3.4 %

Shares of INTC opened at $20.83 on Friday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $50.30. The firm has a market capitalization of $89.84 billion, a P/E ratio of -5.60, a price-to-earnings-growth ratio of 9.72 and a beta of 1.07. 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 stock’s fifty day simple moving average is $21.23 and its 200 day simple moving average is $23.02.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the business earned $0.28 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on INTC. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Northland Securities dropped their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group decreased their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research report on Thursday, October 17th. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Citigroup decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $28.81.

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.