Envestnet Asset Management Inc. Sells 514,075 Shares of Intel Co. (NASDAQ:INTC)

Envestnet Asset Management Inc. decreased its position in Intel Co. (NASDAQ:INTC - Free Report) by 39.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 796,745 shares of the chip maker's stock after selling 514,075 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Intel were worth $15,975,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Morse Asset Management Inc bought a new stake in Intel in the third quarter valued at about $354,000. Advisory Resource Group raised its holdings in shares of Intel by 6.7% in the 3rd quarter. Advisory Resource Group now owns 16,579 shares of the chip maker's stock worth $389,000 after buying an additional 1,034 shares in the last quarter. SOA Wealth Advisors LLC. lifted its position in shares of Intel by 7.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 9,076 shares of the chip maker's stock worth $213,000 after buying an additional 615 shares during the period. World Investment Advisors LLC boosted its stake in Intel by 59.6% in the 3rd quarter. World Investment Advisors LLC now owns 42,990 shares of the chip maker's stock valued at $1,009,000 after buying an additional 16,046 shares in the last quarter. Finally, Denver PWM LLC grew its position in Intel by 752.1% in the third quarter. Denver PWM LLC now owns 26,425 shares of the chip maker's stock valued at $620,000 after acquiring an additional 23,324 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

INTC has been the subject of a number of analyst reports. UBS Group cut their price objective on Intel from $23.00 to $22.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Intel in a report on Monday, April 14th. Truist Financial decreased their price target on Intel from $22.00 to $21.00 and set a "hold" rating on the stock in a research report on Friday, January 31st. Mizuho decreased their target price on Intel from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Friday, January 10th. Finally, Cantor Fitzgerald lifted their price target on Intel from $22.00 to $29.00 and gave the company a "neutral" rating in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Intel currently has a consensus rating of "Hold" and a consensus target price of $25.38.

Intel Stock Down 1.6 %

Intel stock traded down $0.30 during midday trading on Friday, reaching $18.93. The stock had a trading volume of 85,400,923 shares, compared to its average volume of 78,688,066. Intel Co. has a 1-year low of $17.67 and a 1-year high of $37.16. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. The firm's fifty day simple moving average is $22.34 and its 200-day simple moving average is $21.96. The stock has a market capitalization of $82.55 billion, a P/E ratio of -4.32 and a beta of 1.13.

Intel (NASDAQ:INTC - Get Free Report) last announced 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%. As a group, analysts expect that Intel Co. will post -0.11 EPS for the current fiscal year.

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.