Bar Harbor Wealth Management Sells 20,744 Shares of Intel Co. (NASDAQ:INTC)

Bar Harbor Wealth Management decreased its position in Intel Co. (NASDAQ:INTC) by 32.8% during the 4th quarter, Holdings Channel reports. The firm owned 42,484 shares of the chip maker’s stock after selling 20,744 shares during the period. Bar Harbor Wealth Management’s holdings in Intel were worth $852,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new position in shares of Intel during the second quarter valued at about $2,178,000. Geode Capital Management LLC increased its holdings in Intel by 4.6% during the 3rd 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 period. Principal Financial Group Inc. raised its position in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after purchasing an additional 204,200 shares during the last quarter. Swiss National Bank lifted its holdings in Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares during the period. Finally, SGL Investment Advisors Inc. bought a new stake in shares of Intel in the 3rd quarter worth approximately $2,365,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

INTC has been the subject of a number of recent analyst reports. Northland Securities decreased their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Truist Financial boosted their price target on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Finally, TD Cowen upgraded Intel to a “hold” rating in a report on Monday, September 16th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.96.

Intel Stock Performance

INTC traded down $0.08 during mid-day trading on Monday, reaching $19.07. 38,000,754 shares of the company traded hands, compared to its average volume of 56,543,313. The stock has a market capitalization of $82.25 billion, a P/E ratio of -5.13 and a beta of 1.07. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30. 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 company’s fifty day moving average price is $22.03 and its 200-day moving average price is $23.66.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 return on equity of 1.71% and a negative net margin of 29.42%. Intel’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.28 EPS. On average, sell-side analysts expect that Intel Co. will post -0.87 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was 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 owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.