AIA Group Ltd Reduces Stock Position in Intel Co. (NASDAQ:INTC)

AIA Group Ltd trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 67.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,364 shares of the chip maker’s stock after selling 21,849 shares during the period. AIA Group Ltd’s holdings in Intel were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in Intel by 0.9% in the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock valued at $17,186,478,000 after purchasing an additional 3,310,528 shares in the last quarter. Capital International Investors boosted its holdings in shares of Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after buying an additional 15,475,631 shares in the last quarter. Primecap Management Co. CA grew its position in shares of Intel by 2.2% in the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the last quarter. Van ECK Associates Corp raised its stake in Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after acquiring an additional 9,422,136 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on INTC. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Mizuho upped their price target on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Wedbush lowered their price objective on shares of Intel from $32.50 to $25.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. 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’s stock. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and a consensus target price of $30.12.

Intel Stock Down 0.1 %

INTC opened at $26.20 on Friday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The company has a market cap of $113.00 billion, a price-to-earnings ratio of -7.04 and a beta of 1.03. The business’s fifty day moving average is $22.22 and its two-hundred day moving average is $26.66. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the prior year, the firm earned $0.28 earnings per share. Intel’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was 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 approximately $7,104,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

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.