Fulton Bank N.A. Has $729,000 Stake in Intel Co. (NASDAQ:INTC)

Fulton Bank N.A. cut its holdings in Intel Co. (NASDAQ:INTC) by 49.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,350 shares of the chip maker’s stock after selling 35,095 shares during the period. Fulton Bank N.A.’s holdings in Intel were worth $729,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INTC. Cyrus J. Lawrence LLC bought a new stake in Intel in the second quarter worth approximately $27,000. Fairfield Financial Advisors LTD acquired a new position in shares of Intel during the 2nd quarter valued at $35,000. Quest Partners LLC boosted its stake in Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares in the last quarter. FSA Wealth Management LLC acquired a new stake in Intel in the third quarter worth $34,000. Finally, Capital Performance Advisors LLP bought a new stake in Intel in the third quarter valued at $36,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Price Performance

Shares of NASDAQ:INTC opened at $19.88 on Friday. The company has a 50-day moving average price of $22.12 and a two-hundred day moving average price of $23.83. Intel Co. has a twelve month low of $18.51 and a twelve month high of $50.30. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $85.74 billion, a PE ratio of -5.34 and a beta of 1.07.

Intel (NASDAQ:INTC) last released its quarterly earnings data 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 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 posted $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Equities analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on INTC. Rosenblatt Securities restated a “sell” rating and issued a $17.00 target price on shares of Intel in a research note on Tuesday, October 29th. Robert W. Baird raised their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus restated a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Six equities research analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $30.04.

Insider Buying and Selling

In other 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 value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is currently 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.