Intel Co. (NASDAQ:INTC) Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 13.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,470 shares of the chip maker’s stock after selling 9,193 shares during the quarter. Essex Financial Services Inc.’s holdings in Intel were worth $1,152,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INTC. Finley Financial LLC acquired a new stake in shares of Intel in the fourth quarter valued at approximately $25,000. Keystone Financial Group Inc. acquired a new position in Intel in the 4th quarter valued at $29,000. Quest Partners LLC raised its position in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after buying an additional 1,253 shares during the last quarter. West Financial Advisors LLC purchased a new position in Intel during the fourth quarter worth about $31,000. Finally, Groupama Asset Managment lifted its holdings in shares of Intel by 6.3% in the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock valued at $32,000 after buying an additional 8,084 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Price Performance

INTC stock opened at $20.97 on Wednesday. The company has a market cap of $90.80 billion, a PE ratio of -4.79 and a beta of 1.08. 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 50-day moving average price of $20.23 and a two-hundred day moving average price of $21.78. Intel Co. has a 12-month low of $18.51 and a 12-month high of $46.63.

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

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research analyst reports. Truist Financial cut their price target on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a report on Friday, January 31st. Robert W. Baird increased their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Hsbc Global Res upgraded shares of Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Bank of America reaffirmed an “underperform” rating and issued a $21.00 price target on shares of Intel in a report on Tuesday, December 3rd. Finally, Northland Securities dropped their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.60.

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.