Fiduciary Trust Co Sells 78,684 Shares of Intel Co. (NASDAQ:INTC)

Fiduciary Trust Co lowered its holdings in shares of Intel Co. (NASDAQ:INTC) by 51.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,829 shares of the chip maker’s stock after selling 78,684 shares during the period. Fiduciary Trust Co’s holdings in Intel were worth $1,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTC. Key Financial Inc increased its stake in Intel by 4.1% in the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after acquiring an additional 340 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of Intel by 1.4% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock valued at $767,000 after purchasing an additional 348 shares during the period. Cidel Asset Management Inc. raised its holdings in shares of Intel by 0.6% in the 2nd quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after buying an additional 381 shares in the last quarter. Alhambra Investment Management LLC lifted its position in shares of Intel by 5.9% during the 2nd quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock worth $217,000 after buying an additional 389 shares during the period. Finally, Cambridge Advisors Inc. boosted its stake in Intel by 2.4% in the 2nd quarter. Cambridge Advisors Inc. now owns 17,025 shares of the chip maker’s stock valued at $527,000 after buying an additional 393 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on INTC shares. Barclays dropped their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Stifel Nicolaus reiterated a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. JPMorgan Chase & Co. cut their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating for the company in a research report on Friday, August 2nd. Finally, HSBC lowered Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Six equities research 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. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average price target of $30.12.

Intel Price Performance

Shares of NASDAQ INTC opened at $24.05 on Friday. The company has a fifty day moving average price of $23.48 and a 200 day moving average price of $25.93. The firm has a market cap of $103.73 billion, a PE ratio of -6.47 and a beta of 1.03. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last released its quarterly 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 return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period last year, the company earned $0.28 EPS. The company’s revenue was down 6.3% compared to the same quarter last year. Research analysts predict that Intel Co. will post -0.87 earnings per share for the current fiscal 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 that occurred 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 transaction, the executive vice president now directly owns 273,258 shares in the company, 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 Securities & Exchange Commission, which is available through this link. 0.04% of the stock is owned by insiders.

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.