Alteri Wealth LLC Buys Shares of 118,642 Intel Co. (NASDAQ:INTC)

Alteri Wealth LLC purchased a new position in shares of Intel Co. (NASDAQ:INTC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 118,642 shares of the chip maker's stock, valued at approximately $2,379,000. Intel comprises about 0.7% of Alteri Wealth LLC's portfolio, making the stock its 20th largest position.

A number of other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Intel by 1.7% in 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 purchasing an additional 6,143,164 shares during the period. Geode Capital Management LLC increased its position in Intel by 3.2% in the 4th 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. Norges Bank acquired a new stake in Intel in the 4th quarter valued at approximately $1,246,569,000. Northern Trust Corp raised its stake in Intel by 15.5% during the 4th 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 in the last quarter. Finally, Invesco Ltd. boosted its position in Intel by 9.4% during the 4th quarter. Invesco Ltd. now owns 43,088,830 shares of the chip maker's stock worth $863,931,000 after acquiring an additional 3,696,377 shares during the period. Institutional investors and hedge funds own 64.53% of the company's stock.

Intel Stock Performance

Shares of INTC stock opened at $20.62 on Friday. The stock's fifty day simple moving average is $21.47 and its 200-day simple moving average is $21.77. The company has a market capitalization of $89.92 billion, a price-to-earnings ratio of -4.71 and a beta of 1.13. 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 1-year low of $17.67 and a 1-year high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last issued its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. The company had revenue of $12.67 billion for the quarter, compared to the consensus estimate of $12.26 billion. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.18 EPS. On average, sell-side analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Bank of America upgraded shares of Intel from an "underperform" rating to a "neutral" rating and lifted their price objective for the company from $19.00 to $25.00 in a research note on Thursday, March 13th. Wedbush dropped their price target on shares of Intel from $20.00 to $19.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 23rd. Rosenblatt Securities decreased their price objective on shares of Intel from $18.00 to $14.00 and set a "sell" rating for the company in a report on Friday, April 25th. Sanford C. Bernstein dropped their target price on Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. Finally, StockNews.com raised Intel from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $22.23.

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.

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