Cassaday & Co Wealth Management LLC Sells 3,935 Shares of Intel Co. (NASDAQ:INTC)

Cassaday & Co Wealth Management LLC trimmed its holdings in Intel Co. (NASDAQ:INTC) by 21.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,740 shares of the chip maker’s stock after selling 3,935 shares during the quarter. Cassaday & Co Wealth Management LLC’s holdings in Intel were worth $346,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Capital International Investors increased its position in Intel by 16.0% during the first quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the last quarter. Primecap Management Co. CA boosted its stake in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock worth $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Intel by 27.2% during the 3rd quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Intel by 6.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock valued at $1,759,811,000 after acquiring an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Intel by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock worth $1,161,779,000 after purchasing an additional 487,191 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insider Transactions at Intel

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction that occurred 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 directly owns 273,258 shares of the company’s stock, valued at $7,104,708. This 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 is available through this link. Company insiders own 0.04% of the company’s stock.

Intel Price Performance

NASDAQ:INTC opened at $24.84 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44. The firm has a market cap of $107.13 billion, a PE ratio of -6.68 and a beta of 1.03. Intel Co. has a 12 month low of $18.51 and a 12 month high of $51.28. The company’s 50-day moving average price is $22.80 and its two-hundred day moving average price is $26.26.

Intel (NASDAQ:INTC) last announced its earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. 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 previous year, the firm earned $0.28 earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Intel Co. will post -0.83 EPS for the current fiscal year.

Analyst Ratings Changes

INTC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price target on shares of Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research report on Friday, August 2nd. Roth Mkm cut their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Mizuho upped their price target on shares of Intel from $22.00 to $23.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Bank of America lowered Intel from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Finally, New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Six analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.12.

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.