Intel Co. (NASDAQ:INTC) Shares Sold by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,358 shares of the chip maker’s stock after selling 1,475 shares during the quarter. Providence Wealth Advisors LLC’s holdings in Intel were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. America First Investment Advisors LLC acquired a new position in Intel in the second quarter valued at about $25,000. Cyrus J. Lawrence LLC acquired a new stake in shares of Intel during the second quarter worth about $27,000. Quest Partners LLC lifted its position in shares of Intel by 7,370.6% during the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after purchasing an additional 1,253 shares in the last quarter. Spartan Fund Management Inc. purchased a new stake in shares of Intel during the second quarter worth approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in shares of Intel during the second quarter worth approximately $32,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Activity

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 value of $650,000.00. Following the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

INTC opened at $23.65 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. The business has a 50-day moving average of $23.43 and a two-hundred day moving average of $25.97. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The business had revenue of $13.30 billion during the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.28 EPS. Sell-side analysts anticipate that Intel Co. will post -0.87 EPS for the current fiscal year.

Analyst Ratings Changes

INTC has been the topic of a number of recent research reports. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Susquehanna cut their target price on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Daiwa America upgraded shares of Intel to a “hold” rating in a research note on Monday, August 26th. HSBC lowered shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Finally, Barclays dropped their price target on shares of Intel from $40.00 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 company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.