Evercore Wealth Management LLC Sells 4,881 Shares of Intel Co. (NASDAQ:INTC)

Evercore Wealth Management LLC decreased its holdings in Intel Co. (NASDAQ:INTC) by 5.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 80,710 shares of the chip maker’s stock after selling 4,881 shares during the period. Evercore Wealth Management LLC’s holdings in Intel were worth $1,618,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its position in Intel by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after acquiring an additional 6,143,164 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Intel by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after purchasing an additional 2,978,346 shares during the last quarter. Norges Bank acquired a new position in Intel during the 4th quarter worth approximately $1,246,569,000. Invesco Ltd. lifted its stake in Intel by 9.4% in the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker’s stock valued at $863,931,000 after purchasing an additional 3,696,377 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Intel by 7.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 33,938,760 shares of the chip maker’s stock valued at $680,472,000 after buying an additional 2,248,342 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research reports. Truist Financial dropped their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. Bank of America raised Intel from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. HSBC upgraded Intel from a “reduce” rating to a “hold” rating in a report on Tuesday, January 21st. Roth Mkm cut their target price on shares of Intel from $25.00 to $20.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. Finally, Benchmark restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, Intel currently has an average rating of “Hold” and a consensus price target of $23.43.

Intel Stock Up 5.4 %

Intel stock opened at $20.57 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $89.69 billion, a PE ratio of -4.70 and a beta of 1.13. The firm’s fifty day moving average is $22.11 and its 200 day moving average is $21.90. Intel Co. has a 12-month low of $17.67 and a 12-month high of $37.16.

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