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

HM Payson & Co. trimmed its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 32.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,607 shares of the chip maker's stock after selling 33,741 shares during the period. HM Payson & Co.'s holdings in Intel were worth $1,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Intel by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock worth $7,400,439,000 after acquiring an additional 6,143,164 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker's stock valued at $1,909,761,000 after purchasing an additional 2,978,346 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intel by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker's stock worth $1,268,430,000 after acquiring an additional 4,793,927 shares in the last quarter. Norges Bank bought a new position in shares of Intel in the fourth quarter worth approximately $1,246,569,000. Finally, Northern Trust Corp raised its holdings in shares of Intel by 15.5% during the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker's stock valued at $918,522,000 after purchasing an additional 6,157,853 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INTC. Susquehanna decreased their price objective on shares of Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Benchmark reissued a "hold" rating on shares of Intel in a research report on Friday, April 25th. Wedbush lowered their target price on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Citigroup reaffirmed a "sell" rating on shares of Intel in a report on Friday, April 25th. Finally, Cfra Research upgraded Intel to a "hold" rating in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $21.62.

Intel Stock Down 1.8%

Intel stock traded down $0.41 during midday trading on Monday, hitting $22.09. 27,492,474 shares of the company were exchanged, compared to its average volume of 94,961,367. The company's fifty day moving average price is $21.04 and its 200-day moving average price is $21.21. Intel Corporation has a fifty-two week low of $17.67 and a fifty-two week high of $37.16. The company has a market cap of $96.33 billion, a PE ratio of -4.92 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.93.

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

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.