Confluence Wealth Services Inc. Sells 15,188 Shares of Intel Co. (NASDAQ:INTC)

Confluence Wealth Services Inc. trimmed its holdings in shares of Intel Co. (NASDAQ:INTC) by 41.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,491 shares of the chip maker’s stock after selling 15,188 shares during the period. Confluence Wealth Services Inc.’s holdings in Intel were worth $464,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quest Partners LLC lifted its stake in shares of Intel by 7,370.6% in the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after purchasing an additional 1,253 shares during the period. Finley Financial LLC acquired a new position in Intel in the fourth quarter valued at about $25,000. FSA Wealth Management LLC bought a new position in Intel during the third quarter worth about $34,000. Capital Performance Advisors LLP acquired a new position in shares of Intel during the 3rd quarter worth about $36,000. Finally, West Financial Advisors LLC bought a new stake in shares of Intel in the 4th quarter valued at about $31,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Price Performance

Intel stock opened at $19.65 on Thursday. The stock’s fifty day moving average price is $20.58 and its two-hundred day moving average price is $22.14. The firm has a market cap of $84.75 billion, a PE ratio of -4.49, a price-to-earnings-growth ratio of 9.49 and a beta of 1.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. Intel Co. has a one year low of $18.51 and a one year high of $46.63.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. As a group, research analysts expect that Intel Co. will post 0.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group decreased their target price on Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a research note on Tuesday, January 21st. The Goldman Sachs Group lowered their target price on Intel from $22.00 to $21.00 and set a “sell” rating for the company in a research note on Thursday, October 17th. Mizuho cut their price target on shares of Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Northland Securities lowered their price objective on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Truist Financial dropped their price objective on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, January 31st. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Intel has an average rating of “Hold” and an average target price of $26.60.

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.