Destination Wealth Management Has $545,000 Holdings in Intel Co. (NASDAQ:INTC)

Destination Wealth Management lowered its position in Intel Co. (NASDAQ:INTC) by 22.5% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,217 shares of the chip maker’s stock after selling 6,736 shares during the period. Destination Wealth Management’s holdings in Intel were worth $545,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of INTC. Key Financial Inc raised its holdings in shares of Intel by 4.1% in the second quarter. Key Financial Inc now owns 8,685 shares of the chip maker’s stock valued at $269,000 after acquiring an additional 340 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in Intel by 1.4% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 24,779 shares of the chip maker’s stock worth $767,000 after buying an additional 348 shares in the last quarter. Cidel Asset Management Inc. lifted its holdings in Intel by 0.6% during the second quarter. Cidel Asset Management Inc. now owns 64,589 shares of the chip maker’s stock worth $2,000,000 after buying an additional 381 shares during the period. Everpar Advisors LLC increased its holdings in shares of Intel by 4.6% in the 2nd quarter. Everpar Advisors LLC now owns 9,822 shares of the chip maker’s stock valued at $304,000 after acquiring an additional 435 shares during the period. Finally, Dunhill Financial LLC raised its position in shares of Intel by 22.6% in the 3rd quarter. Dunhill Financial LLC now owns 2,380 shares of the chip maker’s stock worth $56,000 after acquiring an additional 438 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the transaction, the executive vice president now owns 273,258 shares of the company’s stock, valued at $7,104,708. This represents a 8.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.04% of the company’s stock.

Intel Stock Performance

Shares of NASDAQ:INTC opened at $20.78 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.31 and a quick ratio of 0.97. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The firm has a market capitalization of $89.62 billion, a PE ratio of -5.59 and a beta of 1.05. The business’s 50 day moving average price is $23.17 and its 200-day moving average price is $25.30.

Intel (NASDAQ:INTC) last announced its earnings results 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). The business had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. During the same period last year, the firm earned $0.28 EPS. As a group, equities research analysts expect that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INTC. Daiwa America upgraded shares of Intel to a “hold” rating in a report on Monday, August 26th. Needham & Company LLC restated a “hold” rating on shares of Intel in a research note on Friday, November 1st. Robert W. Baird upped their price target on Intel from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Mizuho raised their price objective on Intel from $22.00 to $23.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Tuesday, October 29th. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, Intel has an average rating of “Hold” and a consensus price target of $30.04.

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.