Mount Vernon Associates Inc. MD Increases Stock Position in Intel Co. (NASDAQ:INTC)

Mount Vernon Associates Inc. MD raised its position in Intel Co. (NASDAQ:INTC) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,162 shares of the chip maker’s stock after acquiring an additional 850 shares during the quarter. Intel makes up 0.8% of Mount Vernon Associates Inc. MD’s investment portfolio, making the stock its 29th largest position. Mount Vernon Associates Inc. MD’s holdings in Intel were worth $986,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of INTC. Cyrus J. Lawrence LLC bought a new position in Intel during the 2nd quarter valued at approximately $27,000. Quest Partners LLC increased its stake in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares during the period. Groupama Asset Managment raised its holdings in shares of Intel by 6.3% during the third quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after acquiring an additional 8,084 shares in the last quarter. FSA Wealth Management LLC purchased a new stake in Intel in the third quarter worth $34,000. Finally, Capital Performance Advisors LLP bought a new stake in Intel in the third quarter valued at $36,000. 64.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The shares were 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 in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Performance

Shares of NASDAQ INTC opened at $19.45 on Wednesday. The firm’s 50-day moving average price is $21.89 and its 200-day moving average price is $23.49. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30. The company has a market cap of $83.89 billion, a PE ratio of -5.23 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 EPS. As a group, analysts anticipate that Intel Co. will post -0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on INTC. The Goldman Sachs Group dropped their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research report on Thursday, October 17th. Robert W. Baird raised their price objective on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Truist Financial upped their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Bank of America restated an “underperform” rating and issued a $21.00 target price on shares of Intel in a research note on Tuesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $29.96.

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.