WealthPLAN Partners LLC Sells 56,145 Shares of Intel Co. (NASDAQ:INTC)

WealthPLAN Partners LLC lowered its stake in shares of Intel Co. (NASDAQ:INTC) by 64.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,517 shares of the chip maker’s stock after selling 56,145 shares during the quarter. WealthPLAN Partners LLC’s holdings in Intel were worth $739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. America First Investment Advisors LLC purchased a new position in shares of Intel in the 2nd quarter worth approximately $25,000. Cyrus J. Lawrence LLC purchased a new position in Intel in the second quarter worth $27,000. Spartan Fund Management Inc. acquired a new position in shares of Intel during the second quarter worth $31,000. Financial Connections Group Inc. acquired a new stake in shares of Intel in the 2nd quarter worth $32,000. Finally, Triad Wealth Partners LLC purchased a new position in Intel during the 2nd quarter worth $33,000. 64.53% of the stock is currently owned by institutional investors.

Intel Stock Down 3.6 %

INTC stock opened at $24.16 on Wednesday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $51.28. 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 firm has a 50-day simple moving average of $22.28 and a 200-day simple moving average of $26.48. The stock has a market capitalization of $104.20 billion, a P/E ratio of -6.49 and a beta of 1.03.

Intel (NASDAQ:INTC) last announced its 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). The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. Intel’s revenue was down 6.3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 EPS. 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 equities research analysts have commented on INTC shares. Northland Securities decreased their price target on Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research note on Friday, November 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Barclays dropped their target price on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Truist Financial raised their price target on shares of Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $30.12.

Insider Buying and Selling at Intel

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 transaction 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 $7,104,708. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.04% of the stock is currently owned by insiders.

Intel Company 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.