WealthBridge Investment Counsel Inc. Sells 865 Shares of Intel Co. (NASDAQ:INTC)

WealthBridge Investment Counsel Inc. decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 65,300 shares of the chip maker’s stock after selling 865 shares during the quarter. WealthBridge Investment Counsel Inc.’s holdings in Intel were worth $1,309,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. Cyrus J. Lawrence LLC acquired a new position in shares of Intel during the second quarter worth approximately $27,000. Quest Partners LLC increased its stake in Intel by 7,370.6% during 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 in the last quarter. FSA Wealth Management LLC acquired a new position in Intel during the third quarter worth $34,000. Capital Performance Advisors LLP bought a new position in shares of Intel in the third quarter valued at $36,000. Finally, West Financial Advisors LLC acquired a new position in shares of Intel during the fourth quarter valued at about $31,000. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Performance

INTC stock opened at $21.49 on Friday. The firm’s fifty day moving average is $21.55 and its 200 day moving average is $23.32. 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 Co. has a 52 week low of $18.51 and a 52 week high of $50.30.

Intel (NASDAQ:INTC) last issued 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 firm had revenue of $13.30 billion during 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 firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.28 EPS. On average, sell-side analysts forecast that Intel Co. will post -0.87 EPS for the current fiscal year.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’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 sale, the executive vice president now owns 273,258 shares in the company, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INTC. Bank of America reaffirmed an “underperform” rating and issued a $21.00 price target on shares of Intel in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Stifel Nicolaus reissued a “hold” rating and set a $25.00 target price (down from $28.00) on shares of Intel in a research report on Friday, October 25th. Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, November 1st. Finally, Northland Securities dropped 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 research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $29.88.

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.