Intel Co. (NASDAQ:INTC) Stock Position Trimmed by Aviance Capital Partners LLC

Aviance Capital Partners LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 32.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,357 shares of the chip maker’s stock after selling 4,527 shares during the quarter. Aviance Capital Partners LLC’s holdings in Intel were worth $220,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on INTC. Roth Mkm cut their price target on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wedbush reduced their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Bank of America lowered shares of Intel from a “neutral” rating to an “underperform” rating and dropped their price target for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. UBS Group reduced their price objective on shares of Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Cantor Fitzgerald lowered their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $30.12.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total value 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 trade represents a 8.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel Stock Down 2.6 %

INTC opened at $24.20 on Wednesday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company has a market cap of $104.37 billion, a PE ratio of -6.51 and a beta of 1.03. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The company has a 50 day moving average of $22.91 and a 200 day moving average of $26.21.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate 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 period last year, the firm earned $0.28 EPS. The company’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, sell-side analysts expect that Intel Co. will post -0.83 EPS for the current year.

About Intel

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.