Falcon Wealth Planning Reduces Stake in Intel Co. (NASDAQ:INTC)

Falcon Wealth Planning cut its holdings in shares of Intel Co. (NASDAQ:INTC) by 16.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,474 shares of the chip maker’s stock after selling 1,990 shares during the quarter. Falcon Wealth Planning’s holdings in Intel were worth $210,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. State Street Corp raised its holdings in shares of Intel by 2.8% during the third quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after purchasing an additional 5,417,753 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Intel by 4.6% during 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 buying an additional 4,103,553 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Intel by 28.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares during the period. Van ECK Associates Corp boosted its stake in shares of Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock worth $967,426,000 after buying an additional 9,422,136 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Intel by 7.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 31,690,418 shares of the chip maker’s stock worth $743,457,000 after acquiring an additional 2,248,332 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Intel

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel 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 completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.04% of the company’s stock.

Intel Stock Down 2.4 %

NASDAQ INTC opened at $19.80 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. Intel Co. has a 52 week low of $18.51 and a 52 week high of $46.63. The business’s fifty day simple moving average is $21.14 and its 200-day simple moving average is $22.76. The firm has a market cap of $85.40 billion, a PE ratio of -5.32, a P/E/G ratio of 9.72 and a beta of 1.07.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.28 earnings per share. As a group, equities analysts anticipate that Intel Co. will post -0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on INTC shares. Benchmark reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Truist Financial increased their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Bank of America reaffirmed an “underperform” rating and issued a $21.00 price objective on shares of Intel in a report on Tuesday, December 3rd. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. Finally, The Goldman Sachs Group cut their price target on Intel from $22.00 to $21.00 and set a “sell” rating for the company 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 assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $27.88.

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.