Avantax Advisory Services Inc. Sells 7,243 Shares of Intel Co. (NASDAQ:INTC)

Avantax Advisory Services Inc. trimmed its stake in Intel Co. (NASDAQ:INTC) by 4.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,393 shares of the chip maker’s stock after selling 7,243 shares during the period. Avantax Advisory Services Inc.’s holdings in Intel were worth $3,497,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Geode Capital Management LLC raised its position in shares of Intel by 4.6% in 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 acquiring an additional 4,103,553 shares in the last quarter. Relyea Zuckerberg Hanson LLC raised its position in shares of Intel by 211.6% in the 4th quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker’s stock worth $579,000 after acquiring an additional 19,625 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker’s stock worth $113,244,000 after acquiring an additional 204,200 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Intel during the 4th quarter valued at about $276,000. Finally, Swiss National Bank increased its position in Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker’s stock valued at $296,426,000 after buying an additional 31,800 shares in the last quarter. 64.53% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the topic of several recent analyst reports. Wells Fargo & Company reduced their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Rosenblatt Securities reaffirmed a “sell” rating and set a $20.00 target price on shares of Intel in a research report on Thursday, January 30th. JPMorgan Chase & Co. reduced their target price on Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research report on Friday, January 31st. Barclays reduced their target price on Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Finally, Benchmark reaffirmed a “hold” rating on shares of Intel in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $27.04.

Intel Stock Performance

Shares of INTC stock opened at $24.05 on Friday. The company has a market capitalization of $104.14 billion, a P/E ratio of -5.49 and a beta of 1.02. The business’s 50 day moving average is $21.45 and its two-hundred day moving average is $21.85. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Intel Co. has a 12-month low of $18.51 and a 12-month high of $45.41.

Intel (NASDAQ:INTC) last announced its earnings results 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 net margin of 35.32% and a negative return on equity of 3.27%. Analysts expect that Intel Co. will post -0.11 EPS 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.