Farmers Trust Co. Sells 3,597 Shares of Intel Co. (NASDAQ:INTC)

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Farmers Trust Co. lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 133,704 shares of the chip maker’s stock after selling 3,597 shares during the quarter. Intel accounts for 2.1% of Farmers Trust Co.’s holdings, making the stock its 11th biggest holding. Farmers Trust Co.’s holdings in Intel were worth $8,002,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Evanson Asset Management LLC grew its position in Intel by 0.8% in the 4th quarter. Evanson Asset Management LLC now owns 21,877 shares of the chip maker’s stock valued at $1,309,000 after acquiring an additional 172 shares during the last quarter. Unison Advisors LLC lifted its holdings in shares of Intel by 0.6% in the 4th quarter. Unison Advisors LLC now owns 30,650 shares of the chip maker’s stock worth $1,834,000 after buying an additional 182 shares during the period. Beaton Management Co. Inc. lifted its holdings in shares of Intel by 0.8% in the 3rd quarter. Beaton Management Co. Inc. now owns 23,905 shares of the chip maker’s stock worth $1,232,000 after buying an additional 190 shares during the period. Lindbrook Capital LLC lifted its holdings in shares of Intel by 1.4% in the 3rd quarter. Lindbrook Capital LLC now owns 14,246 shares of the chip maker’s stock worth $734,000 after buying an additional 193 shares during the period. Finally, Empirical Finance LLC lifted its holdings in shares of Intel by 1.8% in the 3rd quarter. Empirical Finance LLC now owns 11,109 shares of the chip maker’s stock worth $572,000 after buying an additional 195 shares during the period. 65.28% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Navin Shenoy sold 1,404 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $55.94, for a total transaction of $78,539.76. Following the completion of the sale, the executive vice president now directly owns 58,168 shares in the company, valued at approximately $3,253,917.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James J. Goetz acquired 86,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were bought at an average price of $58.24 per share, with a total value of $5,037,760.00. Following the completion of the purchase, the director now directly owns 137,720 shares in the company, valued at $8,020,812.80. The disclosure for this purchase can be found here. Insiders have sold a total of 81,284 shares of company stock valued at $4,517,194 over the last 90 days. 0.02% of the stock is currently owned by company insiders.

Several brokerages have weighed in on INTC. Sanford C. Bernstein reiterated a “sell” rating and issued a $42.00 target price on shares of Intel in a report on Friday, October 25th. KeyCorp reiterated a “hold” rating on shares of Intel in a report on Friday, October 25th. Barclays upped their target price on Intel from $40.00 to $42.00 and gave the stock an “underweight” rating in a report on Friday, October 25th. Royal Bank of Canada upped their target price on Intel from $47.00 to $48.00 and gave the stock an “underperform” rating in a report on Friday, October 25th. Finally, Susquehanna Bancshares upped their target price on Intel from $52.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Eight investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Intel currently has an average rating of “Hold” and an average price target of $56.66.

Shares of NASDAQ INTC opened at $58.94 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.20 and a quick ratio of 0.85. The stock has a market capitalization of $258.52 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.68 and a beta of 0.91. Intel Co. has a 1-year low of $42.86 and a 1-year high of $60.97. The business has a fifty day moving average price of $58.52 and a 200 day moving average price of $53.05.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, October 24th. The chip maker reported $1.42 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.18. The firm had revenue of $19.19 billion during the quarter, compared to analysts’ expectations of $18.07 billion. Intel had a return on equity of 28.28% and a net margin of 27.46%. The firm’s quarterly revenue was up .1% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 EPS. As a group, equities research analysts anticipate that Intel Co. will post 4.61 earnings per share for the current fiscal year.

Intel declared that its Board of Directors has initiated a stock buyback plan on Thursday, October 24th that allows the company to buyback $20.00 billion in outstanding shares. This buyback authorization allows the chip maker to purchase up to 8.7% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Intel Profile

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

Read More: Differences Between Momentum Investing and Long Term Investing

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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