Everence Capital Management Inc. Sells 28,810 Shares of Intel Co. (NASDAQ:INTC)

Everence Capital Management Inc. cut its holdings in shares of Intel Co. (NASDAQ:INTC - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,708 shares of the chip maker's stock after selling 28,810 shares during the period. Everence Capital Management Inc.'s holdings in Intel were worth $1,638,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of INTC. General Partner Inc. boosted its holdings in Intel by 6.5% during the fourth quarter. General Partner Inc. now owns 12,366 shares of the chip maker's stock worth $248,000 after purchasing an additional 750 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Intel by 12.1% in the 4th quarter. Versant Capital Management Inc now owns 5,583 shares of the chip maker's stock worth $112,000 after buying an additional 603 shares during the last quarter. Cacti Asset Management LLC boosted its stake in shares of Intel by 6.0% in the 4th quarter. Cacti Asset Management LLC now owns 123,100 shares of the chip maker's stock worth $2,440,000 after buying an additional 7,000 shares during the last quarter. Independent Solutions Wealth Management LLC grew its holdings in shares of Intel by 29.5% in the third quarter. Independent Solutions Wealth Management LLC now owns 18,895 shares of the chip maker's stock valued at $443,000 after acquiring an additional 4,304 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock valued at $113,244,000 after acquiring an additional 204,200 shares during the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Intel

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

Intel Price Performance

Shares of NASDAQ INTC traded up $0.34 during mid-day trading on Friday, reaching $20.56. 48,850,980 shares of the company were exchanged, compared to its average volume of 47,644,742. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30. The company's 50 day moving average price is $22.32 and its 200 day moving average price is $24.13. The stock has a market capitalization of $88.68 billion, a PE ratio of -5.53 and a beta of 1.07. 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 (NASDAQ:INTC - Get Free Report) last issued its quarterly 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 for 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 company's revenue for the quarter was down 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. Sell-side analysts forecast that Intel Co. will post -0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

INTC has been the topic of several research analyst reports. Rosenblatt Securities reissued a "sell" rating and issued a $17.00 price objective on shares of Intel in a research report on Tuesday, October 29th. Mizuho boosted their price target on shares of Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Benchmark restated a "hold" rating on shares of Intel in a report on Friday, November 1st. Robert W. Baird boosted their target price on shares of Intel from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, TD Cowen upgraded shares of Intel to a "hold" rating in a research note on Monday, September 16th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Intel has a consensus 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.