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

Savvy Advisors Inc. lessened its stake in Intel Co. (NASDAQ:INTC) by 2.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,641 shares of the chip maker’s stock after selling 1,571 shares during the period. Savvy Advisors Inc.’s holdings in Intel were worth $1,446,000 as of its most recent SEC filing.

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

Intel Stock Down 1.4 %

INTC stock opened at $24.70 on Tuesday. The stock has a 50-day simple moving average of $22.28 and a two-hundred day simple moving average of $26.48. Intel Co. has a twelve month low of $18.51 and a twelve month high of $51.28. The firm has a market capitalization of $106.53 billion, a PE ratio of -6.73 and a beta of 1.03. 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 (NASDAQ:INTC) last posted its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to the consensus estimate of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The business’s revenue was down 6.3% on a year-over-year basis. During the same period last year, the company posted $0.28 EPS. On average, equities analysts predict that Intel Co. will post -0.83 EPS for the current fiscal year.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. New Street Research cut Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Raymond James cut Intel from an “outperform” rating to a “market perform” rating 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. Roth Mkm cut their price target on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Intel from $35.00 to $26.00 and set an “underweight” 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 target price of $30.12.

Intel 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.