Forza Wealth Management LLC Sells 22,404 Shares of Intel Co. (NASDAQ:INTC)

Forza Wealth Management LLC lessened its position in Intel Co. (NASDAQ:INTC) by 63.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,715 shares of the chip maker’s stock after selling 22,404 shares during the quarter. Forza Wealth Management LLC’s holdings in Intel were worth $255,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. William B. Walkup & Associates Inc. bought a new stake in shares of Intel in the second quarter worth $2,178,000. Geode Capital Management LLC lifted its position in Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock worth $2,162,891,000 after buying an additional 4,103,553 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after buying an additional 204,200 shares during the last quarter. Swiss National Bank boosted its stake in shares of Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock worth $296,426,000 after buying an additional 31,800 shares during the last quarter. Finally, SGL Investment Advisors Inc. bought a new position in shares of Intel in the 3rd quarter valued at about $2,365,000. Institutional investors own 64.53% of the company’s stock.

Intel Price Performance

INTC stock traded down $0.05 during mid-day trading on Monday, hitting $19.10. The stock had a trading volume of 31,980,667 shares, compared to its average volume of 55,739,887. The firm has a fifty day simple moving average of $22.03 and a 200 day simple moving average of $23.66. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $82.38 billion, a P/E ratio of -5.13 and a beta of 1.07.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the business posted $0.28 EPS. The company’s revenue for the quarter was down 6.3% compared to the same quarter last year. As a group, research analysts forecast that Intel Co. will post -0.87 EPS for the current year.

Insider Buying and Selling

In other Intel news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the transaction, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INTC shares. The Goldman Sachs Group dropped their target price on Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. Robert W. Baird increased their price objective on Intel from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft lowered their target price 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. Truist Financial lifted their price objective on shares of Intel from $25.00 to $26.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Northland Securities dropped their target price on shares of Intel from $42.00 to $28.00 and set an “outperform” rating on the stock in a report on Friday, November 1st. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $29.96.

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.