Congress Wealth Management LLC DE Sells 121,125 Shares of Intel Co. (NASDAQ:INTC)

Congress Wealth Management LLC DE reduced its holdings in shares of Intel Co. (NASDAQ:INTC) by 25.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 350,712 shares of the chip maker’s stock after selling 121,125 shares during the period. Congress Wealth Management LLC DE’s holdings in Intel were worth $7,032,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Finley Financial LLC acquired a new stake in Intel in the 4th quarter valued at $25,000. Synergy Investment Management LLC acquired a new stake in shares of Intel in the fourth quarter valued at about $27,000. BankPlus Trust Department bought a new stake in Intel during the fourth quarter worth about $28,000. Keystone Financial Group Inc. acquired a new position in Intel during the fourth quarter valued at approximately $29,000. Finally, Quest Partners LLC grew its stake in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Down 0.1 %

Shares of INTC opened at $24.20 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $104.79 billion, a PE ratio of -5.53 and a beta of 1.02. The firm’s 50 day moving average is $22.15 and its 200-day moving average is $22.08. Intel Co. has a 12 month low of $18.51 and a 12 month high of $45.41.

Intel (NASDAQ:INTC) last announced its quarterly earnings data 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 forecast that Intel Co. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INTC. Bank of America upgraded Intel from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $19.00 to $25.00 in a research note on Thursday, March 13th. Benchmark restated a “hold” rating on shares of Intel in a report on Friday, January 31st. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lowered their price objective on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Finally, Rosenblatt Securities reaffirmed a “sell” rating and issued a $20.00 target price on shares of Intel in a report on Thursday, January 30th. Four analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average price target of $27.04.

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.