HM Payson & Co. Sells 33,741 Shares of Intel Corporation (NASDAQ:INTC)

HM Payson & Co. cut its holdings in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 32.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 70,607 shares of the chip maker's stock after selling 33,741 shares during the quarter. HM Payson & Co.'s holdings in Intel were worth $1,603,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Assetmark Inc. raised its holdings in shares of Intel by 121.8% during the 4th quarter. Assetmark Inc. now owns 5,286 shares of the chip maker's stock valued at $106,000 after buying an additional 2,903 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Intel in the fourth quarter worth $1,789,000. Raymond James Financial Inc. purchased a new stake in Intel during the fourth quarter valued at about $53,465,000. Callan Family Office LLC purchased a new position in shares of Intel in the fourth quarter worth about $279,000. Finally, West Family Investments Inc. bought a new stake in shares of Intel in the 4th quarter valued at about $265,000. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Intel stock traded down $0.49 during mid-day trading on Monday, reaching $22.00. 80,616,506 shares of the company's stock traded hands, compared to its average volume of 86,351,705. The company has a market cap of $95.96 billion, a price-to-earnings ratio of -4.91 and a beta of 1.15. Intel Corporation has a 12-month low of $17.67 and a 12-month high of $37.16. The company has a quick ratio of 0.93, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $21.04 and a two-hundred day moving average of $21.21.

Intel (NASDAQ:INTC - Get Free Report) last announced its earnings results on Thursday, April 24th. The chip maker reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to analysts' expectations of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. During the same quarter in the previous year, the business earned $0.18 EPS. The company's quarterly revenue was down .4% on a year-over-year basis. Equities analysts forecast that Intel Corporation will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INTC. Wedbush dropped 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. Deutsche Bank Aktiengesellschaft began coverage on Intel in a report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price objective for the company. Wells Fargo & Company reduced their target price on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research note on Friday, April 25th. Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a report on Wednesday, April 30th. Finally, Benchmark restated a "hold" rating on shares of Intel in a report on Friday, April 25th. Five equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $21.76.

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.