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

Confluence Wealth Services Inc. lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 41.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,491 shares of the chip maker’s stock after selling 15,188 shares during the quarter. Confluence Wealth Services Inc.’s holdings in Intel were worth $464,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lion Street Advisors LLC boosted its holdings in shares of Intel by 76.9% during the 4th quarter. Lion Street Advisors LLC now owns 15,261 shares of the chip maker’s stock valued at $306,000 after acquiring an additional 6,634 shares in the last quarter. Jericho Financial LLP bought a new position in Intel in the fourth quarter valued at about $2,045,000. Guidance Capital Inc. boosted its stake in shares of Intel by 37.5% during the fourth quarter. Guidance Capital Inc. now owns 29,354 shares of the chip maker’s stock valued at $611,000 after purchasing an additional 8,010 shares in the last quarter. RFG Holdings Inc. grew its holdings in shares of Intel by 56.3% during the fourth quarter. RFG Holdings Inc. now owns 29,795 shares of the chip maker’s stock worth $598,000 after purchasing an additional 10,737 shares during the last quarter. Finally, E. Ohman J or Asset Management AB increased its stake in shares of Intel by 13.1% in the fourth quarter. E. Ohman J or Asset Management AB now owns 193,220 shares of the chip maker’s stock valued at $3,874,000 after buying an additional 22,320 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on INTC shares. Benchmark reaffirmed a “hold” rating on shares of Intel in a research note on Friday, January 31st. Barclays cut their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, January 31st. Bank of America restated an “underperform” rating and set a $21.00 price objective on shares of Intel in a research report on Tuesday, December 3rd. Finally, Robert W. Baird upped their target price on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.60.

Intel Price Performance

Shares of INTC opened at $19.65 on Thursday. The stock has a market cap of $84.75 billion, a P/E ratio of -4.49, a P/E/G ratio of 9.49 and a beta of 1.08. The business’s fifty day moving average is $20.58 and its 200 day moving average is $22.14. Intel Co. has a 12-month low of $18.51 and a 12-month high of $46.63. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its quarterly earnings data 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 return on equity of 3.27% and a negative net margin of 35.32%. Sell-side analysts anticipate that Intel Co. will post 0.19 earnings per share for the current fiscal year.

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.