Essex Financial Services Inc. Reduces Stock Holdings in Intel Co. (NASDAQ:INTC)

Essex Financial Services Inc. cut its position in Intel Co. (NASDAQ:INTC) by 13.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Mill Creek Capital Advisors LLC lifted its stake in shares of Intel by 6.5% in the fourth quarter. Mill Creek Capital Advisors LLC now owns 12,666 shares of the chip maker’s stock worth $254,000 after acquiring an additional 774 shares in the last quarter. Bristlecone Advisors LLC increased its position in shares of Intel by 14.4% in the 4th quarter. Bristlecone Advisors LLC now owns 116,851 shares of the chip maker’s stock worth $2,343,000 after purchasing an additional 14,699 shares during the last quarter. Soltis Investment Advisors LLC raised its stake in shares of Intel by 5.3% in the 4th quarter. Soltis Investment Advisors LLC now owns 50,309 shares of the chip maker’s stock valued at $1,009,000 after purchasing an additional 2,518 shares in the last quarter. Silicon Valley Capital Partners grew its stake in Intel by 1,997.2% in the fourth quarter. Silicon Valley Capital Partners now owns 10,339 shares of the chip maker’s stock worth $207,000 after purchasing an additional 9,846 shares in the last quarter. Finally, Savant Capital LLC increased its holdings in Intel by 62.3% in the fourth quarter. Savant Capital LLC now owns 232,918 shares of the chip maker’s stock valued at $4,670,000 after buying an additional 89,437 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INTC has been the subject of a number of research analyst reports. Benchmark reiterated a “hold” rating on shares of Intel in a report on Friday, January 31st. The Goldman Sachs Group decreased their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. JPMorgan Chase & Co. dropped their target price on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a report on Friday, January 31st. Needham & Company LLC restated a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Truist Financial lowered their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $26.60.

Intel Trading Up 6.1 %

Shares of NASDAQ:INTC opened at $20.97 on Wednesday. The company has a 50 day moving average of $20.23 and a 200-day moving average of $21.78. 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 firm has a market cap of $90.80 billion, a P/E ratio of -4.79 and a beta of 1.08. Intel Co. has a twelve month low of $18.51 and a twelve month high of $46.63.

Intel (NASDAQ:INTC) last released its earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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, analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Intel Company 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.