Intel Co. (NASDAQ:INTC) Shares Sold by WealthBridge Investment Counsel Inc.

WealthBridge Investment Counsel Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 30.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,300 shares of the chip maker’s stock after selling 20,000 shares during the period. WealthBridge Investment Counsel Inc.’s holdings in Intel were worth $1,029,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Intel by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after acquiring an additional 6,143,164 shares during the period. Geode Capital Management LLC raised its holdings in shares of Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after acquiring an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Intel by 8.2% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock valued at $1,268,430,000 after acquiring an additional 4,793,927 shares during the period. Norges Bank acquired a new stake in shares of Intel during the fourth quarter valued at approximately $1,246,569,000. Finally, Northern Trust Corp raised its holdings in shares of Intel by 15.5% during the fourth quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock valued at $918,522,000 after acquiring an additional 6,157,853 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Up 0.4%

Shares of Intel stock opened at $20.06 on Friday. The stock has a market capitalization of $87.50 billion, a P/E ratio of -4.58 and a beta of 1.15. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $20.39 and a 200 day simple moving average of $21.28. Intel Co. has a 12-month low of $17.67 and a 12-month high of $37.16.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.12. The firm had revenue of $12.67 billion during the quarter, compared to analysts’ expectations of $12.26 billion. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same quarter last year, the company posted $0.18 EPS. Research analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Intel in a report on Friday, April 25th. Benchmark restated a “hold” rating on shares of Intel in a report on Friday, April 25th. Mizuho cut their price target on shares of Intel from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Citigroup restated a “sell” rating on shares of Intel in a report on Friday, April 25th. Finally, Bank of America upgraded shares of Intel from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.57.

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.