Ritholtz Wealth Management Sells 4,051 Shares of Intel Co. (NASDAQ:INTC)

Ritholtz Wealth Management cut its holdings in Intel Co. (NASDAQ:INTC) by 17.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,784 shares of the chip maker’s stock after selling 4,051 shares during the period. Ritholtz Wealth Management’s holdings in Intel were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. William B. Walkup & Associates Inc. bought a new stake in Intel in the second quarter worth approximately $2,178,000. Geode Capital Management LLC increased its stake in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock valued at $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Swiss National Bank lifted its position in shares of Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after acquiring an additional 31,800 shares during the period. Finally, InvesTrust bought a new position in Intel during the fourth quarter worth $3,696,000. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Stock Performance

NASDAQ INTC opened at $21.77 on Wednesday. The company has a market capitalization of $93.89 billion, a PE ratio of -5.85, a price-to-earnings-growth ratio of 9.46 and a beta of 1.07. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31. Intel Co. has a 52-week low of $18.51 and a 52-week high of $50.30. The company has a 50-day simple moving average of $21.48 and a 200 day simple moving average of $23.20.

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

Insider Buying and Selling at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on INTC. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. The Goldman Sachs Group dropped their price target on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Rosenblatt Securities reissued a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Tuesday, October 29th. Truist Financial upped their target price on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Barclays reduced their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Five equities research analysts have rated the stock with a sell rating, twenty-six have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.81.

About Intel

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.