Bar Harbor Wealth Management Sells 20,744 Shares of Intel Co. (NASDAQ:INTC)

Bar Harbor Wealth Management decreased its position in Intel Co. (NASDAQ:INTC) by 32.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,484 shares of the chip maker’s stock after selling 20,744 shares during the quarter. Bar Harbor Wealth Management’s holdings in Intel were worth $852,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new position in Intel in the 2nd quarter valued at $2,178,000. Geode Capital Management LLC boosted its holdings in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. Principal Financial Group Inc. grew its position in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after buying an additional 204,200 shares during the period. Swiss National Bank increased its holdings in Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares during the last quarter. Finally, SGL Investment Advisors Inc. bought a new stake in Intel in the third quarter worth about $2,365,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Mizuho decreased their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday. Northland Securities decreased their target price on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. TD Cowen upgraded Intel to a “hold” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $25.00 price objective (down from $28.00) on shares of Intel in a research note on Friday, October 25th. Six 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’s stock. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus price target of $29.96.

Intel Price Performance

Shares of Intel stock traded down $0.08 on Monday, hitting $19.07. 38,000,754 shares of the company traded hands, compared to its average volume of 56,543,313. Intel Co. has a 12-month low of $18.51 and a 12-month high of $50.30. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a market cap of $82.25 billion, a P/E ratio of -5.13 and a beta of 1.07. The firm’s 50-day simple moving average is $22.03 and its 200 day simple moving average is $23.66.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. Analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is owned by insiders.

Intel 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.