PNC Financial Services Group Inc. Cuts Stake in Intel Corporation (NASDAQ:INTC)

Key Points

• PNC Financial Services Group Inc. reduced its stake in Intel Corporation by 5.3%, selling over 242,000 shares to hold approximately 4.32 million shares valued at around $98 million.
• Intel's stock recently traded down by 2.5%, with a current market price of $19.31, reflecting a debt-to-equity ratio of 0.42 and a negative P/E ratio of -4.05.
• The company's latest earnings report showed a loss of ($0.10) EPS, missing expectations, with revenue of $12.86 billion—around $1 billion higher than analyst forecasts.

PNC Financial Services Group Inc. lessened its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 5.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,320,928 shares of the chip maker's stock after selling 242,106 shares during the quarter. PNC Financial Services Group Inc. owned about 0.10% of Intel worth $98,128,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Freestone Grove Partners LP acquired a new position in Intel in the 4th quarter worth approximately $62,654,000. Toronto Dominion Bank grew its stake in shares of 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 grew its stake in shares of 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 acquired a new stake in shares of Intel during the 4th quarter worth approximately $2,379,000. Finally, Gordian Capital Singapore Pte Ltd grew its stake in shares of 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. Institutional investors and hedge funds own 64.53% of the company's stock.

Analysts Set New Price Targets

INTC has been the topic of a number of analyst reports. Citigroup reaffirmed a "hold" rating on shares of Intel in a research note on Tuesday, July 8th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intel in a research note on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price target on the stock. Benchmark reissued a "hold" rating on shares of Intel in a research note on Friday, July 25th. Sanford C. Bernstein dropped their price target on shares of Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wedbush dropped their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Six analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, Intel currently has a consensus rating of "Hold" and a consensus target price of $22.17.

Intel Stock Down 2.5%

Shares of Intel stock traded down $0.49 on Friday, reaching $19.31. 86,281,416 shares of the company were exchanged, compared to its average volume of 82,517,544. The stock's 50 day moving average price is $21.58 and its 200-day moving average price is $21.54. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.24 and a quick ratio of 0.92. The company has a market cap of $84.52 billion, a P/E ratio of -4.05 and a beta of 1.22. Intel Corporation has a 1-year low of $17.67 and a 1-year high of $27.55.

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