Howe & Rusling Inc. Acquires 2,396 Shares of Intel Co. (NASDAQ:INTC)

Howe & Rusling Inc. boosted its holdings in Intel Co. (NASDAQ:INTC) by 8.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,613 shares of the chip maker’s stock after purchasing an additional 2,396 shares during the period. Howe & Rusling Inc.’s holdings in Intel were worth $742,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. America First Investment Advisors LLC purchased a new position in Intel in the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC bought a new stake in Intel in the 2nd quarter worth $27,000. Spartan Fund Management Inc. bought a new position in shares of Intel during the second quarter valued at about $31,000. Financial Connections Group Inc. bought a new stake in shares of Intel in the second quarter worth about $32,000. Finally, Triad Wealth Partners LLC purchased a new stake in Intel in the 2nd quarter worth approximately $33,000. 64.53% of the stock is owned by institutional investors.

Intel Trading Down 0.8 %

Intel stock opened at $24.01 on Thursday. The business has a 50-day simple moving average of $23.00 and a two-hundred day simple moving average of $26.20. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The company has a market cap of $103.56 billion, a P/E ratio of -6.45 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same period in the prior year, the company posted $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts predict that Intel Co. will post -0.83 EPS for the current year.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on INTC shares. Northland Securities reduced their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research report on Friday, November 1st. Mizuho increased their price target on shares of Intel from $22.00 to $23.00 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 report on Friday, November 1st. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, 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 report on Thursday, October 17th. Six analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $30.12.

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.