Empirical Financial Services LLC d.b.a. Empirical Wealth Management Lowers Stock Position in Intel Co. (NASDAQ:INTC)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management reduced its stake in Intel Co. (NASDAQ:INTC) by 15.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,478 shares of the chip maker’s stock after selling 9,103 shares during the quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Intel were worth $992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its stake in shares of Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after acquiring an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC raised its stake in shares of Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after acquiring an additional 19,625 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Empirical Asset Management LLC purchased a new position in shares of Intel during the fourth quarter worth approximately $276,000. Finally, Swiss National Bank raised its stake in shares of Intel by 0.3% during the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after acquiring an additional 31,800 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of INTC stock opened at $19.80 on Wednesday. Intel Co. has a one year low of $18.51 and a one year high of $46.63. The company’s 50-day moving average is $21.14 and its 200 day moving average is $22.76. The company has a market capitalization of $85.40 billion, a price-to-earnings ratio of -5.32, a price-to-earnings-growth ratio of 9.72 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 (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period last year, the company posted $0.28 earnings per share. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. Sell-side analysts expect that Intel Co. will post -0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on INTC shares. Barclays decreased their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Robert W. Baird lifted their price target on shares of Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, November 1st. Citigroup decreased their target price on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Finally, The Goldman Sachs Group decreased their target price on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $27.88.

Insider Activity at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.04% of the stock is currently owned by insiders.

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.