Truist Financial Corp Sells 155,354 Shares of Intel Co. (NASDAQ:INTC)

Truist Financial Corp trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 16.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 812,065 shares of the chip maker’s stock after selling 155,354 shares during the quarter. Truist Financial Corp’s holdings in Intel were worth $16,282,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Dunhill Financial LLC increased its position in Intel by 22.6% in the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock valued at $56,000 after acquiring an additional 438 shares during the period. Beaton Management Co. Inc. increased its position in Intel by 2.2% in the 3rd quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock valued at $544,000 after acquiring an additional 500 shares during the period. CFM Wealth Partners LLC increased its position in Intel by 4.0% in the 4th quarter. CFM Wealth Partners LLC now owns 13,114 shares of the chip maker’s stock valued at $263,000 after acquiring an additional 500 shares during the period. Wealth Quarterback LLC increased its position in Intel by 2.0% in the 4th quarter. Wealth Quarterback LLC now owns 25,458 shares of the chip maker’s stock valued at $510,000 after acquiring an additional 508 shares during the period. Finally, Missouri Trust & Investment Co increased its position in Intel by 3.6% in the 4th quarter. Missouri Trust & Investment Co now owns 15,650 shares of the chip maker’s stock valued at $314,000 after acquiring an additional 550 shares during the period. 64.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the subject of several recent research reports. Bank of America restated an “underperform” rating and issued a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Citigroup decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a research report on Friday, January 31st. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research report on Tuesday, January 21st. Finally, Barclays decreased their price objective on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.88.

Intel Price Performance

INTC stock opened at $25.72 on Thursday. The firm has a 50 day moving average of $20.53 and a 200-day moving average of $21.56. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Intel Co. has a 12 month low of $18.51 and a 12 month high of $46.63. The firm has a market capitalization of $111.37 billion, a P/E ratio of -5.87 and a beta of 1.08.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, sell-side analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

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.