Grove Bank & Trust Reduces Position in Intel Co. (NASDAQ:INTC)

Grove Bank & Trust cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 16.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,728 shares of the chip maker’s stock after selling 747 shares during the quarter. Grove Bank & Trust’s holdings in Intel were worth $75,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in INTC. Dunhill Financial LLC grew its stake in Intel by 22.6% during the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after purchasing an additional 438 shares in the last quarter. MKT Advisors LLC grew its stake in Intel by 4.8% during the 3rd quarter. MKT Advisors LLC now owns 10,762 shares of the chip maker’s stock worth $241,000 after purchasing an additional 490 shares in the last quarter. Beaton Management Co. Inc. grew its stake in Intel by 2.2% during the 3rd quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock worth $544,000 after purchasing an additional 500 shares in the last quarter. Everpar Advisors LLC grew its stake in Intel by 5.1% during the 3rd quarter. Everpar Advisors LLC now owns 10,326 shares of the chip maker’s stock worth $242,000 after purchasing an additional 504 shares in the last quarter. Finally, First Financial Bankshares Inc lifted its holdings in Intel by 2.7% during the 3rd quarter. First Financial Bankshares Inc now owns 20,891 shares of the chip maker’s stock worth $490,000 after buying an additional 557 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

INTC stock opened at $21.49 on Tuesday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30. The stock’s fifty day simple moving average is $21.55 and its 200-day simple moving average is $23.27. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $92.69 billion, a price-to-earnings ratio of -5.78, a price-to-earnings-growth ratio of 8.53 and a beta of 1.07.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same quarter in the previous year, the business posted $0.28 EPS. Intel’s revenue was down 6.3% compared to the same quarter last year. Equities research analysts expect that Intel Co. will post -0.87 EPS for the current year.

Insider Activity 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 owned by insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on INTC shares. Mizuho decreased their price target on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Benchmark reaffirmed a “hold” rating on shares of Intel in a report on Friday, November 1st. Robert W. Baird boosted their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Bank of America reissued an “underperform” rating and set a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.88.

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.