Hartford Investment Management Co. Lowers Position in Intel Co. (NASDAQ:INTC)

Hartford Investment Management Co. lessened its position in Intel Co. (NASDAQ:INTC) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 266,578 shares of the chip maker’s stock after selling 1,772 shares during the quarter. Hartford Investment Management Co.’s holdings in Intel were worth $5,345,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in INTC. Finley Financial LLC purchased a new position in shares of Intel in the 4th quarter valued at approximately $25,000. Keystone Financial Group Inc. purchased a new position in Intel during the fourth quarter valued at $29,000. Quest Partners LLC raised its stake in 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 last quarter. West Financial Advisors LLC purchased a new position in Intel during the fourth quarter valued at $31,000. Finally, Groupama Asset Managment raised its stake in 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 buying an additional 8,084 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Performance

Shares of INTC stock opened at $20.97 on Wednesday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $46.63. The firm has a fifty day moving average price of $20.23 and a 200-day moving average price of $21.78. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (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%. As a group, sell-side analysts anticipate that Intel Co. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

INTC has been the subject of a number of recent research reports. Truist Financial lowered their price objective on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. The Goldman Sachs Group lowered their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. JPMorgan Chase & Co. lowered their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research note on Friday, January 31st. Barclays lowered their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, January 17th. Finally, Northland Securities lowered their price objective on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.60.

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.