Savvy Advisors Inc. Sells 1,571 Shares of Intel Co. (NASDAQ:INTC)

Savvy Advisors Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 2.5% during the third quarter, HoldingsChannel.com reports. The firm owned 61,641 shares of the chip maker’s stock after selling 1,571 shares during the quarter. Savvy Advisors Inc.’s holdings in Intel were worth $1,446,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. Capital International Investors grew its position in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock valued at $1,071,308,000 after buying an additional 13,035,566 shares during the last quarter. Davis Selected Advisers raised its holdings in Intel by 86.2% in the 2nd quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after acquiring an additional 5,851,098 shares during the last quarter. Caxton Associates LP bought a new position in shares of Intel during the second quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after buying an additional 4,272,395 shares during the last quarter. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on 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 approximately $7,104,708. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.04% of the stock is currently owned by company insiders.

Intel Stock Down 1.4 %

Intel stock opened at $24.70 on Tuesday. The business has a fifty day moving average price of $22.28 and a 200-day moving average price of $26.48. 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 1-year low of $18.51 and a 1-year high of $51.28. The stock has a market capitalization of $106.53 billion, a price-to-earnings ratio of -6.73 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The company had revenue of $13.30 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the business earned $0.28 earnings per share. Equities research analysts forecast that Intel Co. will post -0.83 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com cut shares of Intel from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Rosenblatt Securities reaffirmed a “sell” rating and issued a $17.00 price objective on shares of Intel in a report on Tuesday, October 29th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, November 1st. Truist Financial boosted their price target on Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Morgan Stanley dropped their price target on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $30.12.

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.