Birmingham Capital Management Co. Inc. AL Trims Stock Position in Intel Co. (NASDAQ:INTC)

Birmingham Capital Management Co. Inc. AL decreased its position in Intel Co. (NASDAQ:INTC) by 9.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,801 shares of the chip maker’s stock after selling 9,810 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Intel were worth $2,154,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. William B. Walkup & Associates Inc. acquired a new position in Intel during the second quarter worth $2,178,000. Geode Capital Management LLC lifted its position in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after purchasing an additional 4,103,553 shares in the last quarter. Swiss National Bank boosted its stake in shares of Intel by 0.3% in the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares during the period. SGL Investment Advisors Inc. purchased a new stake in shares of Intel during the third quarter worth approximately $2,365,000. Finally, Benjamin Edwards Inc. raised its holdings in Intel by 35,983.5% in the third quarter. Benjamin Edwards Inc. now owns 32,836 shares of the chip maker’s stock valued at $770,000 after acquiring an additional 32,745 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on INTC. Robert W. Baird boosted their price target on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. The Goldman Sachs Group reduced their price objective on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Mizuho lifted their target price on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Finally, Rosenblatt Securities restated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $30.04.

Intel Stock Down 1.5 %

INTC traded down $0.32 during midday trading on Friday, hitting $20.46. 11,706,297 shares of the company’s stock traded hands, compared to its average volume of 61,465,234. The company has a market cap of $88.24 billion, a PE ratio of -5.59 and a beta of 1.05. The stock’s fifty day simple moving average is $23.17 and its 200-day simple moving average is $25.30. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a one year low of $18.51 and a one year high of $51.28.

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

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s 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 sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.04% of the stock is owned by company insiders.

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.