Glenmede Trust Co. NA Reduces Position in Intel Co. (NASDAQ:INTC)

Glenmede Trust Co. NA reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 10.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,168,687 shares of the chip maker’s stock after selling 135,838 shares during the period. Glenmede Trust Co. NA’s holdings in Intel were worth $27,417,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. America First Investment Advisors LLC bought a new stake in shares of Intel during the second quarter valued at approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel during the 2nd quarter worth $27,000. Quest Partners LLC raised its position in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of Intel in the 2nd quarter worth $31,000. Finally, Financial Connections Group Inc. bought a new position in shares of Intel during the 2nd quarter worth $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Activity at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.04% of the stock is currently owned by insiders.

Intel Stock Down 1.7 %

Shares of NASDAQ INTC opened at $23.65 on Thursday. The stock has a market cap of $102.00 billion, a PE ratio of -6.36 and a beta of 1.03. 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 $51.28. The company has a 50-day moving average of $23.38 and a 200 day moving average of $25.99.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $0.28 earnings per share. As a group, sell-side analysts predict that Intel Co. will post -0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INTC. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Barclays reduced their price target on Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft dropped their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, UBS Group decreased their price target on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research 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. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.12.

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.