Cobblestone Capital Advisors LLC NY Sells 3,640 Shares of Intel Co. (NASDAQ:INTC)

Cobblestone Capital Advisors LLC NY cut its stake in Intel Co. (NASDAQ:INTC) by 21.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 13,222 shares of the chip maker’s stock after selling 3,640 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Intel were worth $265,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its position in Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after buying an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intel by 28.2% in 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 valued at $1,371,692,000 after purchasing an additional 12,865,308 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in Intel by 224.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Finally, State Street Corp increased its stake in Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after buying an additional 5,417,753 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

Intel stock opened at $23.74 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $46.63. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The business’s 50-day moving average price is $21.21 and its two-hundred day moving average price is $21.79. The stock has a market cap of $102.80 billion, a PE ratio of -5.42 and a beta of 1.08.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company decreased their price objective on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Truist Financial lowered their price target on Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. JPMorgan Chase & Co. cut their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, January 31st. HSBC upgraded shares of Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $20.00 price objective on shares of Intel in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $26.88.

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.