Patten & Patten Inc. TN Decreases Holdings in Intel Co. (NASDAQ:INTC)

Patten & Patten Inc. TN lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 20.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 62,562 shares of the chip maker’s stock after selling 15,668 shares during the period. Patten & Patten Inc. TN’s holdings in Intel were worth $1,254,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Beaton Management Co. Inc. increased its stake in shares of Intel by 2.2% in the third quarter. Beaton Management Co. Inc. now owns 23,208 shares of the chip maker’s stock worth $544,000 after purchasing an additional 500 shares in the last quarter. Cassady Schiller Wealth Management LLC increased its stake in shares of Intel by 72.6% in the third quarter. Cassady Schiller Wealth Management LLC now owns 2,406 shares of the chip maker’s stock worth $56,000 after purchasing an additional 1,012 shares in the last quarter. Frazier Financial Advisors LLC increased its stake in shares of Intel by 1,097.8% in the third quarter. Frazier Financial Advisors LLC now owns 5,570 shares of the chip maker’s stock worth $131,000 after purchasing an additional 5,105 shares in the last quarter. Accent Capital Management LLC increased its stake in shares of Intel by 415.1% in the third quarter. Accent Capital Management LLC now owns 9,529 shares of the chip maker’s stock worth $224,000 after purchasing an additional 7,679 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after purchasing an additional 31,800 shares in the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on INTC shares. UBS Group reduced their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Rosenblatt Securities reaffirmed a “sell” rating and set a $20.00 price objective on shares of Intel in a research note on Thursday, January 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Citigroup reduced their price objective on shares of Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. Finally, Bank of America raised shares of Intel from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $19.00 to $25.00 in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.04.

Intel Price Performance

Shares of Intel stock opened at $24.05 on Monday. Intel Co. has a 52-week low of $18.51 and a 52-week high of $45.41. The stock has a market capitalization of $104.14 billion, a price-to-earnings ratio of -5.49 and a beta of 1.02. The company has a fifty day moving average of $21.45 and a 200-day moving average of $21.87. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Equities research analysts expect that Intel Co. will post -0.11 EPS for the current year.

About Intel

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.