Fulton Bank N.A. Lowers Position in Intel Co. (NASDAQ:INTC)

Fulton Bank N.A. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 49.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 36,350 shares of the chip maker’s stock after selling 35,095 shares during the quarter. Fulton Bank N.A.’s holdings in Intel were worth $729,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares in the last quarter. Geode Capital Management LLC lifted its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after purchasing an additional 4,103,553 shares during the last quarter. Primecap Management Co. CA grew its stake in Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after buying an additional 1,697,550 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock worth $1,371,692,000 after buying an additional 12,865,308 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after buying an additional 9,422,136 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on INTC shares. Mizuho increased their target price on Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced 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. Bank of America restated an “underperform” rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Finally, Stifel Nicolaus reaffirmed 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. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Performance

Shares of Intel stock opened at $19.88 on Friday. The business has a fifty day simple moving average of $22.12 and a two-hundred day simple moving average of $23.83. The firm has a market capitalization of $85.74 billion, a P/E ratio of -5.34 and a beta of 1.07. 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 $50.30.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter last year, the company posted $0.28 EPS. Intel’s revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insider Activity at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.