Intel Corporation (NASDAQ:INTC) Shares Sold by First Heartland Consultants Inc.

Key Points

• First Heartland Consultants Inc. significantly reduced its stake in Intel Corporation by 67.6%, owning 9,932 shares worth $226,000 after selling 20,766 shares in the first quarter.
• Several institutional investors increased their holdings in Intel, including Pictet Asset Management, which boosted its stake by 20.2%, now holding 2,675,716 shares valued at $53,648,000.
• Intel reported a quarterly EPS of ($0.10), missing estimates, though its revenue of $12.86 billion exceeded expectations, highlighting ongoing challenges with negative returns and a consensus rating of "Hold" from analysts.

First Heartland Consultants Inc. cut its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 67.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 9,932 shares of the chip maker's stock after selling 20,766 shares during the period. First Heartland Consultants Inc.'s holdings in Intel were worth $226,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of INTC. Freestone Grove Partners LP acquired a new stake in shares of Intel during the 4th quarter worth $62,654,000. Toronto Dominion Bank boosted its position in Intel by 286.8% during the 4th quarter. Toronto Dominion Bank now owns 10,529,354 shares of the chip maker's stock worth $211,114,000 after purchasing an additional 7,806,882 shares during the period. 180 Wealth Advisors LLC boosted its position in Intel by 124.9% during the 1st quarter. 180 Wealth Advisors LLC now owns 127,916 shares of the chip maker's stock worth $2,905,000 after purchasing an additional 71,049 shares during the period. Alteri Wealth LLC purchased a new stake in Intel during the 4th quarter worth $2,379,000. Finally, Gordian Capital Singapore Pte Ltd boosted its position in Intel by 120.7% during the 4th quarter. Gordian Capital Singapore Pte Ltd now owns 64,000 shares of the chip maker's stock worth $1,282,000 after purchasing an additional 35,000 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on INTC. JPMorgan Chase & Co. upped their price target on shares of Intel from $20.00 to $21.00 and gave the stock an "underweight" rating in a research report on Friday. Loop Capital began coverage on shares of Intel in a research report on Monday, July 21st. They set a "hold" rating and a $25.00 price target for the company. Wedbush decreased their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Morgan Stanley decreased their price target on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating for the company in a research report on Friday, April 25th. Finally, Barclays reaffirmed a "reduce" rating on shares of Intel in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $22.30.

Intel Stock Performance

Shares of NASDAQ:INTC traded down $1.93 during trading hours on Friday, hitting $20.70. The stock had a trading volume of 244,366,959 shares, compared to its average volume of 78,722,544. The stock's fifty day simple moving average is $21.64 and its 200 day simple moving average is $21.51. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $31.56. The firm has a market capitalization of $90.29 billion, a price-to-earnings ratio of -4.34 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.92 and a current ratio of 1.24.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.11). Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The firm had revenue of $12.86 billion during the quarter, compared to analyst estimates of $11.88 billion. During the same quarter in the previous year, the business posted $0.02 EPS. Intel's revenue for the quarter was up .5% compared to the same quarter last year. Sell-side analysts anticipate that Intel Corporation will post -0.11 earnings per share 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.