Integrated Wealth Concepts LLC Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Integrated Wealth Concepts LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTC) by 6.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 158,320 shares of the chip maker’s stock after selling 10,074 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Intel were worth $3,714,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in INTC. Key Financial Inc increased its position in shares of Intel by 4.1% during the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock worth $269,000 after acquiring an additional 340 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co grew its stake in shares of Intel by 1.4% in the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after acquiring an additional 348 shares in the last quarter. Cidel Asset Management Inc. raised its holdings in shares of Intel by 0.6% in the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock valued at $2,000,000 after purchasing an additional 381 shares during the last quarter. Alhambra Investment Management LLC lifted its position in shares of Intel by 5.9% during the second quarter. Alhambra Investment Management LLC now owns 7,000 shares of the chip maker’s stock valued at $217,000 after purchasing an additional 389 shares in the last quarter. Finally, Everpar Advisors LLC boosted its holdings in Intel by 4.6% during the second quarter. Everpar Advisors LLC now owns 9,822 shares of the chip maker’s stock worth $304,000 after purchasing an additional 435 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction 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 completion of the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on INTC. Robert W. Baird increased their price objective on shares of Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Rosenblatt Securities reaffirmed a “sell” rating and set a $17.00 price target on shares of Intel in a research report on Tuesday, October 29th. Deutsche Bank Aktiengesellschaft cut their price objective on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Finally, Northland Securities cut their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Six analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Intel presently has a consensus rating of “Hold” and a consensus price target of $30.04.

Intel Stock Performance

Shares of INTC opened at $20.80 on Friday. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. 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 market cap of $89.71 billion, a PE ratio of -5.59 and a beta of 1.05. The stock has a 50-day moving average price of $23.40 and a 200-day moving average price of $25.67.

Intel (NASDAQ:INTC) last issued its quarterly 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 return on equity of 1.71% and a negative net margin of 29.42%. The company had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same period in the previous year, the company earned $0.28 EPS. Intel’s quarterly revenue was down 6.3% on a year-over-year basis. As a group, equities analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal 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.