Red Door Wealth Management LLC Sells 36,881 Shares of Intel Co. (NASDAQ:INTC)

Red Door Wealth Management LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 26.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 100,926 shares of the chip maker’s stock after selling 36,881 shares during the quarter. Red Door Wealth Management LLC’s holdings in Intel were worth $2,024,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. William B. Walkup & Associates Inc. bought a new position in Intel during the 2nd quarter worth approximately $2,178,000. Geode Capital Management LLC raised its holdings in Intel by 4.6% in 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 purchasing an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC boosted its position 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 purchasing an additional 19,625 shares in the last quarter. Principal Financial Group Inc. grew its holdings 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 buying an additional 204,200 shares during the period. Finally, Empirical Asset Management LLC bought a new stake in shares of Intel in the 4th quarter valued at $276,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

NASDAQ:INTC opened at $21.57 on Friday. The company has a market cap of $93.03 billion, a P/E ratio of -5.80, a P/E/G ratio of 9.59 and a beta of 1.07. 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 Co. has a one year low of $18.51 and a one year high of $50.30. The firm’s fifty day moving average price is $21.37 and its two-hundred day moving average price is $23.12.

Intel (NASDAQ:INTC) last announced its 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). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the business posted $0.28 EPS. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. Equities analysts expect that Intel Co. will post -0.87 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred on 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 owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.04% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on INTC. The Goldman Sachs Group lowered their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, November 1st. Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday. Finally, Truist Financial boosted their target price on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Five equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $28.81.

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.