RNC Capital Management LLC Sells 21,399 Shares of Intel Co. (NASDAQ:INTC)

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RNC Capital Management LLC decreased its position in Intel Co. (NASDAQ:INTC) by 18.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,842 shares of the chip maker’s stock after selling 21,399 shares during the quarter. RNC Capital Management LLC’s holdings in Intel were worth $4,625,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in INTC. Baron Financial Group LLC bought a new stake in shares of Intel during the third quarter worth approximately $34,000. Holloway Wealth Management LLC bought a new position in Intel during the 3rd quarter worth $41,000. Grace Capital acquired a new position in Intel in the 3rd quarter valued at $53,000. NuWave Investment Management LLC lifted its position in shares of Intel by 400.0% during the 4th quarter. NuWave Investment Management LLC now owns 1,205 shares of the chip maker’s stock valued at $60,000 after acquiring an additional 964 shares during the period. Finally, Guinness Atkinson Asset Management Inc grew its holdings in shares of Intel by 45.6% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 1,420 shares of the chip maker’s stock worth $74,000 after purchasing an additional 445 shares in the last quarter. 60.73% of the stock is currently owned by institutional investors and hedge funds.

Shares of INTC opened at $56.95 on Thursday. Intel Co. has a fifty-two week low of $43.61 and a fifty-two week high of $69.29. The firm has a market cap of $233.38 billion, a price-to-earnings ratio of 11.17, a PEG ratio of 1.36 and a beta of 0.74. The firm has a 50 day moving average price of $49.47 and a 200-day moving average price of $50.52. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.24 and a current ratio of 1.66.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 22nd. The chip maker reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.01. Intel had a net margin of 28.10% and a return on equity of 29.44%. The company had revenue of $18.33 billion for the quarter, compared to analysts’ expectations of $18.26 billion. During the same quarter last year, the company earned $1.42 EPS. The firm’s revenue was down 4.5% compared to the same quarter last year. As a group, equities research analysts predict that Intel Co. will post 4.89 earnings per share for the current year.

Several analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “sell” rating and set a $40.00 price target (down previously from $45.00) on shares of Intel in a research report on Friday, October 23rd. Atlantic Securities raised shares of Intel from an “underweight” rating to a “neutral” rating and increased their price objective for the company from $36.00 to $55.00 in a research note on Thursday. UBS Group cut their target price on shares of Intel from $67.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. 140166 increased their price target on Intel from $53.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, October 21st. Finally, Zacks Investment Research raised Intel from a “sell” rating to a “hold” rating and set a $49.00 price target on the stock in a research note on Tuesday, December 22nd. Eleven analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eighteen have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $59.62.

In related news, VP Kevin Thomas Mcbride sold 589 shares of Intel stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $44.96, for a total value of $26,481.44. Following the transaction, the vice president now directly owns 14,486 shares of the company’s stock, valued at $651,290.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Holmes Swan purchased 8,021 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were purchased at an average price of $44.96 per share, with a total value of $360,624.16. Following the completion of the acquisition, the chief executive officer now directly owns 309,844 shares in the company, valued at $13,930,586.24. The disclosure for this purchase can be found here. Insiders own 0.04% of the company’s stock.

About Intel

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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