Eastern Bank Reduces Stock Position in Intel Co. (NASDAQ:INTC)

Eastern Bank lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 59,638 shares of the chip maker’s stock after selling 7,311 shares during the quarter. Eastern Bank’s holdings in Intel were worth $1,196,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of INTC. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel in the 2nd quarter worth $27,000. Quest Partners LLC lifted its holdings in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the period. Groupama Asset Managment lifted its holdings in shares of Intel by 6.3% in the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after buying an additional 8,084 shares during the period. FSA Wealth Management LLC purchased a new stake in shares of Intel in the 3rd quarter worth $34,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in shares of Intel in the 2nd quarter worth $35,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction 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 sale, the executive vice president now directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by insiders.

Intel Price Performance

INTC stock opened at $19.20 on Tuesday. The business has a fifty day moving average of $21.97 and a two-hundred day moving average of $23.58. 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 cap of $82.81 billion, a price-to-earnings ratio of -5.16 and a beta of 1.07. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30.

Intel (NASDAQ:INTC) last posted 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 business 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%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same period last year, the business earned $0.28 EPS. As a group, research analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INTC shares. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Robert W. Baird increased their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a report on Friday, October 25th. The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Finally, Bank of America restated an “underperform” rating and issued 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $29.96.

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.