Perkins Coie Trust Co Trims Stake in Intel Co. (NASDAQ:INTC)

Perkins Coie Trust Co lowered its stake in Intel Co. (NASDAQ:INTC - Free Report) by 97.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,174 shares of the chip maker's stock after selling 71,854 shares during the period. Perkins Coie Trust Co's holdings in Intel were worth $44,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Aaron Wealth Advisors LLC lifted its holdings in Intel by 3.1% in the fourth quarter. Aaron Wealth Advisors LLC now owns 20,595 shares of the chip maker's stock worth $413,000 after buying an additional 611 shares during the period. BNC Wealth Management LLC raised its position in shares of Intel by 40.4% in the 4th quarter. BNC Wealth Management LLC now owns 19,000 shares of the chip maker's stock worth $381,000 after acquiring an additional 5,466 shares in the last quarter. Udine Wealth Management Inc. lifted its stake in shares of Intel by 2.0% in the 4th quarter. Udine Wealth Management Inc. now owns 94,519 shares of the chip maker's stock valued at $1,895,000 after purchasing an additional 1,851 shares during the period. Ballew Advisors Inc boosted its position in shares of Intel by 10.5% during the fourth quarter. Ballew Advisors Inc now owns 13,815 shares of the chip maker's stock valued at $265,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Krilogy Financial LLC purchased a new stake in Intel in the fourth quarter worth $253,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Up 9.3 %

Shares of INTC traded up $1.82 during midday trading on Friday, reaching $21.49. 163,396,661 shares of the stock were exchanged, compared to its average volume of 50,908,592. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $21.55 and its two-hundred day moving average is $23.27. The company has a market capitalization of $92.69 billion, a P/E ratio of -5.78, a PEG ratio of 8.53 and a beta of 1.07. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30.

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 for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to analysts' expectations of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. Intel's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 EPS. On average, sell-side analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares of the company's stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on INTC. Stifel Nicolaus restated a "hold" rating and set a $25.00 target price (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Barclays dropped their price objective on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research note on Friday. The Goldman Sachs Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a "sell" rating on the stock in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Intel from $27.00 to $25.00 and set a "hold" rating for the company in a report on Thursday, October 3rd. Finally, Bank of America reiterated an "underperform" rating and set a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $29.88.

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.