Venturi Wealth Management LLC Decreases Stake in Intel Co. (NASDAQ:INTC)

Venturi Wealth Management LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 43.6% during the third quarter, HoldingsChannel.com reports. The firm owned 1,281 shares of the chip maker’s stock after selling 992 shares during the period. Venturi Wealth Management LLC’s holdings in Intel were worth $30,000 at the end of the most recent reporting period.

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

Intel Trading Down 2.7 %

Shares of INTC opened at $24.35 on Friday. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The stock’s 50-day moving average is $22.69 and its two-hundred day moving average is $26.36. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. The stock has a market cap of $105.02 billion, a PE ratio of -6.55 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period last year, the business earned $0.28 EPS. The firm’s revenue was down 6.3% compared to the same quarter last year. Equities analysts forecast that Intel Co. will post -0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Roth Mkm decreased their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus reissued a “hold” rating and issued a $25.00 target price (down previously from $28.00) on shares of Intel in a research note on Friday, October 25th. Finally, Northland Securities decreased their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a research note 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 stock. According to MarketBeat.com, Intel has an average rating of “Hold” and an average price target of $30.12.

Insiders Place Their Bets

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 273,258 shares in the company, valued at $7,104,708. This trade represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.04% of the stock is currently owned by company insiders.

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.