Grove to Sell Intel Stock

Intel Chairman and co-founder Andrew Grove filed to sell 484,208 shares in the chip maker Jan. 18 as its stock traded near an all-time high. Based on the stock’s closing price that day of $102.13, the sale would be worth $49.4 million. Intel declined to say whether Grove has sold the stock. Grove held 5.5 million shares at the end of 1998, according to the company’s proxy statement last year.

Separately, shares in SmarterKids.com climbed 28% after Intel disclosed that it holds a 6.18% stake in the online store. The investment was disclosed in SmarterKids.com’s September registration statement for its initial public offering but had not been discussed publicly, a spokeswoman for the company said. Intel made the investment last summer. SmarterKids shares rose $1.44 to close at $6.56 on Nasdaq. The company went public Nov. 23 at $14. Intel rose $2.50 to close at $101.44.