Intel Co. (NASDAQ:INTC) Holdings Lowered by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 9.9% during the third quarter, Holdings Channel reports. The institutional investor owned 13,358 shares of the chip maker’s stock after selling 1,475 shares during the period. Providence Wealth Advisors LLC’s holdings in Intel were worth $296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Janus Henderson Group PLC increased its position in shares of Intel by 14.9% in the first quarter. Janus Henderson Group PLC now owns 473,056 shares of the chip maker’s stock worth $20,889,000 after acquiring an additional 61,516 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Intel by 262.9% in the first quarter. Cetera Investment Advisers now owns 787,130 shares of the chip maker’s stock worth $34,768,000 after acquiring an additional 570,249 shares in the last quarter. Cetera Advisors LLC increased its position in shares of Intel by 27.9% in the first quarter. Cetera Advisors LLC now owns 279,997 shares of the chip maker’s stock worth $12,367,000 after acquiring an additional 61,049 shares in the last quarter. Cetera Advisor Networks LLC increased its position in shares of Intel by 2.8% in the first quarter. Cetera Advisor Networks LLC now owns 375,268 shares of the chip maker’s stock worth $16,576,000 after acquiring an additional 10,272 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its position in shares of Intel by 2.4% in the first quarter. Soltis Investment Advisors LLC now owns 24,113 shares of the chip maker’s stock worth $1,065,000 after acquiring an additional 567 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on INTC. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Hsbc Global Res downgraded shares of Intel from a “hold” rating to a “moderate sell” rating in a research report on Friday, August 2nd. HSBC downgraded shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Susquehanna lowered their price target on shares of Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and an average target price of $30.12.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ INTC opened at $23.65 on Friday. The company’s fifty day moving average is $23.43 and its 200-day moving average is $25.97. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.28 earnings per share. On average, equities analysts predict that Intel Co. will post -0.87 earnings per share for the current year.

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.