Empower Advisory Group LLC Sells 1,680,853 Shares of Intel Co. (NASDAQ:INTC)

Empower Advisory Group LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 95.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,512 shares of the chip maker’s stock after selling 1,680,853 shares during the quarter. Empower Advisory Group LLC’s holdings in Intel were worth $1,678,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Capital International Investors lifted 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 purchasing an additional 15,475,631 shares during the period. Van ECK Associates Corp lifted its position in Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after purchasing an additional 13,035,566 shares during the period. Davis Selected Advisers lifted its position in Intel by 86.2% during the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after purchasing an additional 5,851,098 shares during the period. Caxton Associates LP bought a new stake in Intel during the second quarter worth about $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in Intel by 2,681.1% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock worth $137,251,000 after purchasing an additional 4,272,395 shares during the period. Institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the subject of several research analyst reports. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Bank of America downgraded Intel from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $23.00 in a research note on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, November 1st. UBS Group lowered their price objective on Intel from $37.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Raymond James downgraded Intel from an “outperform” rating to a “market perform” rating in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-five have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.12.

Insider Buying and Selling

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.04% of the stock is owned by company insiders.

Intel Price Performance

Intel stock opened at $24.92 on Thursday. The stock has a market capitalization of $107.48 billion, a price-to-earnings ratio of -6.70 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The stock’s 50 day moving average price is $22.36 and its two-hundred day moving average price is $26.43. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.97 and a current ratio of 1.31.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter in the prior year, the business earned $0.28 earnings per share. Intel’s revenue for the quarter was down 6.3% on a year-over-year basis. On average, equities analysts predict that Intel Co. will post -0.83 earnings per share for the current 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.