W.G. Shaheen & Associates DBA Whitney & Co Sells 700 Shares of Intel Co. (NASDAQ:INTC)

W.G. Shaheen & Associates DBA Whitney & Co lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,079 shares of the chip maker’s stock after selling 700 shares during the quarter. W.G. Shaheen & Associates DBA Whitney & Co’s holdings in Intel were worth $565,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in INTC. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the 2nd quarter worth $2,178,000. Swiss National Bank boosted its holdings in Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after purchasing an additional 31,800 shares during the last quarter. Fortis Group Advisors LLC grew its position in Intel by 1,052.9% in the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock worth $4,058,000 after purchasing an additional 157,991 shares in the last quarter. Mizuho Securities Co. Ltd. increased its stake in Intel by 2,910.4% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after buying an additional 27,940 shares during the last quarter. Finally, Private Advisory Group LLC bought a new position in shares of Intel during the 3rd quarter worth approximately $8,045,000. 64.53% of the stock is owned by institutional investors.

Analyst Ratings Changes

INTC has been the subject of several recent analyst reports. UBS Group reduced their target price on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Rosenblatt Securities restated a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Barclays dropped their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

Shares of NASDAQ:INTC opened at $24.84 on Tuesday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company’s fifty day moving average price is $22.80 and its 200-day moving average price is $26.26. The firm has a market capitalization of $107.13 billion, a price-to-earnings ratio of -6.68 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.28 earnings per share. On average, equities research analysts anticipate that Intel Co. will post -0.83 earnings per share for the current fiscal year.

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 completion of the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.04% of the stock is owned by corporate insiders.

Intel 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.