Citizens Financial Group Inc. RI Reduces Position in Intel Co. (NASDAQ:INTC)

Citizens Financial Group Inc. RI decreased its position in Intel Co. (NASDAQ:INTC) by 31.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,509 shares of the chip maker’s stock after selling 21,605 shares during the period. Citizens Financial Group Inc. RI’s holdings in Intel were worth $1,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. William B. Walkup & Associates Inc. purchased a new position in shares of Intel in the second quarter worth about $2,178,000. Swiss National Bank raised its position in Intel by 0.3% during the 3rd 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. Fortis Group Advisors LLC lifted its stake in Intel by 1,052.9% during the 3rd quarter. Fortis Group Advisors LLC now owns 172,996 shares of the chip maker’s stock valued at $4,058,000 after acquiring an additional 157,991 shares during the period. Mizuho Securities Co. Ltd. boosted its holdings in shares of Intel by 2,910.4% in the 3rd quarter. Mizuho Securities Co. Ltd. now owns 28,900 shares of the chip maker’s stock valued at $678,000 after acquiring an additional 27,940 shares during the last quarter. Finally, Private Advisory Group LLC acquired a new stake in shares of Intel in the third quarter worth $8,045,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Up 0.2 %

Shares of INTC stock opened at $24.50 on Friday. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The stock has a market cap of $105.67 billion, a price-to-earnings ratio of -6.59 and a beta of 1.03. The company’s 50-day moving average price is $23.19 and its 200-day moving average price is $26.14. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

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 firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, equities analysts predict that Intel Co. will post -0.83 earnings per share for the current year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $25.00 price target (down from $28.00) on shares of Intel in a report on Friday, October 25th. The Goldman Sachs Group dropped their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Bank of America cut Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $35.00 to $23.00 in a research report on Friday, August 2nd. Wedbush lowered their price objective on Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Roth Mkm cut their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $30.12.

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.