PNC Financial Services Group Inc. Has $123.73 Million Position in Intel Co. (NASDAQ:INTC)

PNC Financial Services Group Inc. decreased its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,274,034 shares of the chip maker's stock after selling 943,342 shares during the quarter. PNC Financial Services Group Inc. owned about 0.12% of Intel worth $123,729,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. America First Investment Advisors LLC acquired a new position in shares of Intel during the 2nd quarter valued at about $25,000. Cyrus J. Lawrence LLC purchased a new stake in Intel during the 2nd quarter worth approximately $27,000. Spartan Fund Management Inc. acquired a new stake in shares of Intel during the second quarter worth approximately $31,000. Financial Connections Group Inc. acquired a new stake in Intel in the second quarter valued at $32,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Intel in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Price Performance

NASDAQ:INTC traded down $0.19 during trading hours on Wednesday, reaching $24.01. The company had a trading volume of 48,673,438 shares, compared to its average volume of 60,021,453. 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 has a 50-day moving average of $23.00 and a two-hundred day moving average of $26.20. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a market capitalization of $103.56 billion, a PE ratio of -6.45 and a beta of 1.03.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results 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). 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%. The company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. Analysts forecast that Intel Co. will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on INTC. Truist Financial raised their price target on shares of Intel from $25.00 to $26.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. UBS Group cut their target price on Intel from $37.00 to $32.00 and set a "neutral" rating on the stock in a research note on Friday, August 2nd. Morgan Stanley reduced their target price on shares of Intel from $36.00 to $25.00 and set an "equal weight" rating for the company in a research note on Friday, August 2nd. Hsbc Global Res cut Intel from a "hold" rating to a "moderate sell" rating in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald reduced their price objective on shares of Intel from $40.00 to $27.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. Six 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's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.12.

Insider Buying and Selling at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 273,258 shares of the company's stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.04% of the company's stock.

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.