Intel Co. (NASDAQ:INTC) Shares Sold by WealthPLAN Partners LLC

WealthPLAN Partners LLC trimmed its position in Intel Co. (NASDAQ:INTC) by 64.0% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 31,517 shares of the chip maker’s stock after selling 56,145 shares during the period. WealthPLAN Partners LLC’s holdings in Intel were worth $739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. grew its position in Intel by 13.1% in the third quarter. Harbour Investments Inc. now owns 41,341 shares of the chip maker’s stock worth $970,000 after acquiring an additional 4,793 shares during the period. Entropy Technologies LP acquired a new position in shares of Intel in the 3rd quarter valued at $3,624,000. Apollon Wealth Management LLC grew its holdings in shares of Intel by 10.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 214,968 shares of the chip maker’s stock worth $5,043,000 after purchasing an additional 20,047 shares during the period. Opinicus Capital Inc. increased its position in shares of Intel by 6.7% during the 3rd quarter. Opinicus Capital Inc. now owns 20,714 shares of the chip maker’s stock worth $486,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Nations Financial Group Inc. IA ADV raised its holdings in Intel by 3.7% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 26,488 shares of the chip maker’s stock valued at $621,000 after buying an additional 952 shares during the period. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.04% of the company’s stock.

Intel Trading Down 3.6 %

INTC opened at $24.16 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. The business’s 50 day moving average is $22.28 and its two-hundred day moving average is $26.48. The firm has a market cap of $104.20 billion, a price-to-earnings ratio of -6.49 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the previous year, the firm earned $0.28 earnings per share. The business’s revenue was down 6.3% compared to the same quarter last year. On average, research analysts predict that Intel Co. will post -0.83 EPS for the current year.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of recent analyst reports. Wedbush dropped their price target on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Cantor Fitzgerald dropped their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Truist Financial upped their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Raymond James cut Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley decreased their target price on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $30.12.

Intel 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.