Heritage Wealth Management Inc. Trims Position in Intel Co. (NASDAQ:INTC)

Heritage Wealth Management Inc. lessened its stake in Intel Co. (NASDAQ:INTC) by 17.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,250 shares of the chip maker’s stock after selling 4,244 shares during the period. Heritage Wealth Management Inc.’s holdings in Intel were worth $406,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its stake in 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 buying an additional 4,103,553 shares during the period. Relyea Zuckerberg Hanson LLC increased its stake in 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 buying an additional 19,625 shares during the period. Principal Financial Group Inc. increased its stake in 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 buying an additional 204,200 shares during the period. Empirical Asset Management LLC purchased a new position in Intel in the 4th quarter worth about $276,000. Finally, Swiss National Bank increased its stake in Intel by 0.3% in 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 period. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Up 2.8 %

INTC stock opened at $23.74 on Friday. The firm has a 50 day moving average of $21.21 and a 200 day moving average of $21.79. The stock has a market capitalization of $102.80 billion, a PE ratio of -5.42 and a beta of 1.08. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a 52 week low of $18.51 and a 52 week high of $46.63.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. Sell-side analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Barclays cut their target price on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Wells Fargo & Company cut their target price on shares of Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, January 31st. Stifel Nicolaus cut their target price on shares of Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Finally, Truist Financial cut their target price on shares of Intel from $22.00 to $21.00 and set a “hold” rating on the stock in a research report on Friday, January 31st. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.88.

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.