Patriot Financial Group Insurance Agency LLC Sells 14,629 Shares of Intel Co. (NASDAQ:INTC)

Patriot Financial Group Insurance Agency LLC trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 34.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,452 shares of the chip maker’s stock after selling 14,629 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Intel were worth $646,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Wedmont Private Capital bought a new stake in shares of Intel in the 1st quarter valued at about $418,000. Sivia Capital Partners LLC bought a new stake in shares of Intel in the 1st quarter valued at about $209,000. Sunflower Bank N.A. raised its holdings in shares of Intel by 2.5% in the 1st quarter. Sunflower Bank N.A. now owns 22,531 shares of the chip maker’s stock valued at $512,000 after purchasing an additional 542 shares in the last quarter. Horizon Wealth Management LLC grew its position in shares of Intel by 13.5% in the 1st quarter. Horizon Wealth Management LLC now owns 11,445 shares of the chip maker’s stock worth $260,000 after buying an additional 1,361 shares during the last quarter. Finally, Chemistry Wealth Management LLC purchased a new position in shares of Intel in the 1st quarter worth approximately $241,000. 64.53% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INTC shares. Citigroup reiterated a “sell” rating on shares of Intel in a research note on Friday, April 25th. Needham & Company LLC reiterated a “hold” rating on shares of Intel in a research note on Friday, April 25th. Morgan Stanley decreased their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Wells Fargo & Company decreased their target price on shares of Intel from $25.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, April 25th. Finally, Cantor Fitzgerald decreased their target price on shares of Intel from $29.00 to $20.00 and set a “neutral” rating for the company in a research note on Monday, April 21st. Six research 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $21.57.

Intel Price Performance

Intel stock opened at $20.48 on Tuesday. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16. The firm has a market capitalization of $89.33 billion, a price-to-earnings ratio of -4.68 and a beta of 1.12. The company has a fifty day simple moving average of $20.36 and a 200-day simple moving average of $21.21. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The business had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. During the same quarter in the prior year, the firm earned $0.18 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts anticipate that Intel Co. will post -0.11 EPS for the current fiscal year.

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.