Independent Advisor Alliance Sells 7,891 Shares of Intel Co. (NASDAQ:INTC)

Independent Advisor Alliance cut its stake in shares of Intel Co. (NASDAQ:INTC) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,708 shares of the chip maker’s stock after selling 7,891 shares during the quarter. Independent Advisor Alliance’s holdings in Intel were worth $1,800,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp increased its stake in shares of Intel by 60.5% in the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares in the last quarter. Davis Selected Advisers boosted 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 buying an additional 5,851,098 shares during the period. Caxton Associates LP purchased a new stake in Intel in the 2nd quarter worth $162,592,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in 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 acquiring an additional 4,272,395 shares during the period. Finally, Swedbank AB purchased a new position in shares of Intel in the first quarter valued at about $164,002,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Trading Down 3.3 %

INTC opened at $24.05 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. The stock’s fifty day moving average is $23.32 and its two-hundred day moving average is $26.00. The company has a market capitalization of $103.73 billion, a P/E ratio of -6.47 and a beta of 1.03. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s quarterly revenue was down 6.3% on a year-over-year basis. Analysts forecast that Intel Co. will post -0.83 earnings per share for the current year.

Analyst Upgrades and Downgrades

INTC has been the subject of a number of research reports. Cantor Fitzgerald dropped their target price on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Argus lowered Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Robert W. Baird boosted their target price on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Susquehanna cut their price target on Intel from $35.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Mizuho upped their price objective on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Intel presently has an average rating of “Hold” and an average target price of $30.12.

Insider Activity

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction 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 approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.04% of the company’s stock.

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.