Beach Investment Counsel Inc. PA Sells 612 Shares of Intel Co. (NASDAQ:INTC)

Beach Investment Counsel Inc. PA reduced its holdings in Intel Co. (NASDAQ:INTC) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,392 shares of the chip maker’s stock after selling 612 shares during the period. Beach Investment Counsel Inc. PA’s holdings in Intel were worth $208,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of INTC. Assenagon Asset Management S.A. raised its stake in shares of Intel by 264.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Intel by 28.2% in the third 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 purchasing an additional 12,865,308 shares in the last quarter. Van ECK Associates Corp lifted its stake in Intel by 27.2% during the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after purchasing an additional 9,422,136 shares during the period. Jacobs Levy Equity Management Inc. boosted its holdings in Intel by 224.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock valued at $244,302,000 after purchasing an additional 7,207,785 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Intel by 2.8% in the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock valued at $4,644,112,000 after purchasing an additional 5,417,753 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on INTC shares. Bank of America reissued an “underperform” rating and set a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Northland Securities dropped their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Barclays decreased their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $22.00 price target on shares of Intel in a research note on Friday. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $26.60.

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Intel Trading Down 0.7 %

INTC opened at $19.24 on Tuesday. The company has a market cap of $82.99 billion, a P/E ratio of -4.40, a PEG ratio of 9.49 and a beta of 1.08. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $20.78 and its 200-day moving average is $22.34. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Equities research analysts predict that Intel Co. will post 0.19 earnings per share for the current fiscal year.

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.