Intel Co. (NASDAQ:INTC) Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 1.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,324,868 shares of the chip maker’s stock after selling 35,582 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Intel worth $54,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of INTC. Van ECK Associates Corp increased its holdings in Intel by 60.5% during the 2nd quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Davis Selected Advisers increased its stake in shares of Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after buying an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new stake in Intel in the second quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Intel by 2,681.1% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after acquiring an additional 4,272,395 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Mizuho upped their price objective on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Intel in a research report on Friday, November 1st. Northland Securities dropped their price target on Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Six research 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.12.

Insider Buying and Selling

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 value of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is owned by company insiders.

Intel Stock Down 0.5 %

Shares of NASDAQ:INTC opened at $23.93 on Tuesday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. 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’s 50-day moving average is $23.50 and its 200-day moving average is $25.80.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company 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. The company’s revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

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.