Essex Savings Bank Has $222,000 Stock Holdings in Intel Co. (NASDAQ:INTC)

Essex Savings Bank lowered its stake in Intel Co. (NASDAQ:INTC) by 34.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,077 shares of the chip maker’s stock after selling 5,814 shares during the quarter. Essex Savings Bank’s holdings in Intel were worth $222,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in INTC. William B. Walkup & Associates Inc. acquired a new position in Intel during the second quarter valued at approximately $2,178,000. Geode Capital Management LLC boosted its position in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after purchasing an additional 204,200 shares in the last quarter. Swiss National Bank grew its holdings in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the period. Finally, InvesTrust bought a new stake in shares of Intel in the 4th quarter valued at $3,696,000. 64.53% of the stock is currently owned by institutional investors.

Intel Trading Down 0.2 %

Intel stock opened at $19.69 on Friday. The stock has a 50-day simple moving average of $21.78 and a 200 day simple moving average of $23.47. The stock has a market capitalization of $84.90 billion, a P/E ratio of -5.29, a PEG ratio of 8.53 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30.

Intel (NASDAQ:INTC) last issued its earnings results 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 return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. Analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on INTC shares. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 target price on shares of Intel in a report on Tuesday, October 29th. The Goldman Sachs Group decreased their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Finally, Robert W. Baird increased their price objective on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Six 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 MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $29.96.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.04% of the company’s stock.

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.