Wesbanco Bank Inc. Sells 22,583 Shares of Intel Co. (NASDAQ:INTC)

Wesbanco Bank Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 17.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,249 shares of the chip maker’s stock after selling 22,583 shares during the period. Wesbanco Bank Inc.’s holdings in Intel were worth $2,070,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC increased its stake in shares of Intel by 209.3% in the fourth quarter. SG Americas Securities LLC now owns 485,672 shares of the chip maker’s stock valued at $9,738,000 after buying an additional 929,929 shares in the last quarter. Evolution Wealth Advisors LLC bought a new stake in Intel during the 4th quarter worth about $225,000. Finley Financial LLC acquired a new stake in Intel in the 4th quarter valued at about $25,000. Missouri Trust & Investment Co raised its stake in shares of Intel by 3.6% in the fourth quarter. Missouri Trust & Investment Co now owns 15,650 shares of the chip maker’s stock worth $314,000 after acquiring an additional 550 shares during the last quarter. Finally, MCF Advisors LLC lifted its position in shares of Intel by 30.5% during the fourth quarter. MCF Advisors LLC now owns 37,757 shares of the chip maker’s stock worth $757,000 after purchasing an additional 8,819 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of several research analyst reports. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Mizuho dropped their target price on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, January 10th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a report on Friday, November 1st. Bank of America reissued an “underperform” rating and set a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Finally, Robert W. Baird raised their target price on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $28.81.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Trading Down 1.3 %

INTC opened at $21.57 on Friday. The firm’s fifty day simple moving average is $21.37 and its 200 day simple moving average is $23.12. The stock has a market capitalization of $93.03 billion, a P/E ratio of -5.80, a P/E/G ratio of 9.59 and a beta of 1.07. 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 12 month low of $18.51 and a 12 month high of $50.30.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share 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 firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, research analysts anticipate that Intel Co. will post -0.87 EPS 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.