Cullen Investment Group LTD. Decreases Position in Intel Co. (NASDAQ:INTC)

Cullen Investment Group LTD. lessened its holdings in Intel Co. (NASDAQ:INTC) by 13.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,383 shares of the chip maker’s stock after selling 1,605 shares during the quarter. Cullen Investment Group LTD.’s holdings in Intel were worth $208,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of INTC. Thoroughbred Financial Services LLC lifted its position in shares of Intel by 16.0% during the 2nd quarter. Thoroughbred Financial Services LLC now owns 18,112 shares of the chip maker’s stock worth $560,000 after purchasing an additional 2,492 shares during the last quarter. Angeles Investment Advisors LLC lifted its position in shares of Intel by 78.3% during the 2nd quarter. Angeles Investment Advisors LLC now owns 10,515 shares of the chip maker’s stock worth $326,000 after purchasing an additional 4,618 shares during the last quarter. Citizens Financial Group Inc. RI lifted its position in shares of Intel by 70.3% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 69,114 shares of the chip maker’s stock worth $2,140,000 after purchasing an additional 28,531 shares during the last quarter. Wulff Hansen & CO. lifted its position in shares of Intel by 2,425.1% during the 2nd quarter. Wulff Hansen & CO. now owns 945,576 shares of the chip maker’s stock worth $30,532,000 after purchasing an additional 908,129 shares during the last quarter. Finally, WealthPLAN Partners LLC lifted its position in Intel by 10.8% in the second quarter. WealthPLAN Partners LLC now owns 87,662 shares of the chip maker’s stock valued at $2,715,000 after acquiring an additional 8,534 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on INTC. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, November 1st. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Truist Financial boosted their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Bank of America reissued an “underperform” rating and issued a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Finally, Robert W. Baird boosted their price target on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price 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 dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.04% of the stock is owned by insiders.

Intel Stock Performance

Shares of Intel stock opened at $19.20 on Wednesday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30. 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 company’s 50-day simple moving average is $21.89 and its 200-day simple moving average is $23.49. The firm has a market cap of $82.81 billion, a price-to-earnings ratio of -5.16 and a beta of 1.07.

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