Kovitz Investment Group Partners LLC Cuts Stock Holdings in Intel Co. (NASDAQ:INTC)

Kovitz Investment Group Partners LLC lessened its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 71.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 176,871 shares of the chip maker's stock after selling 434,302 shares during the period. Kovitz Investment Group Partners LLC's holdings in Intel were worth $3,546,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after buying an additional 2,978,346 shares during the last quarter. Norges Bank bought a new stake in shares of Intel in the 4th quarter valued at about $1,246,569,000. Invesco Ltd. grew its position in shares of Intel by 9.4% in the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock worth $863,931,000 after buying an additional 3,696,377 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Intel by 7.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker's stock valued at $680,472,000 after acquiring an additional 2,248,342 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company's stock.

Intel Price Performance

Shares of INTC stock traded down $0.17 during mid-day trading on Tuesday, hitting $20.34. 61,931,181 shares of the stock were exchanged, compared to its average volume of 79,571,745. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16. 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 company has a market cap of $88.69 billion, a PE ratio of -4.64 and a beta of 1.13. The firm has a fifty day moving average of $21.82 and a 200 day moving average of $21.83.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. The company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Intel's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. Research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INTC. Sanford C. Bernstein reduced their price target on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research report on Tuesday, April 22nd. Susquehanna reduced their target price on Intel from $24.00 to $22.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 16th. Roth Mkm lowered their price target on Intel from $25.00 to $20.00 and set a "neutral" rating for the company in a report on Friday, January 31st. Cantor Fitzgerald cut their price objective on shares of Intel from $29.00 to $20.00 and set a "neutral" rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company lowered their target price on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday. Five research analysts have rated the stock with a sell rating, twenty-six have given a hold rating and one has given a buy rating to the company. According to MarketBeat, Intel has an average rating of "Hold" and an average target price of $22.23.

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.