Alecta Tjanstepension Omsesidigt Has $45.64 Million Holdings in Intel Corporation (NASDAQ:INTC)

Alecta Tjanstepension Omsesidigt reduced its position in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 62.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,009,600 shares of the chip maker's stock after selling 3,320,000 shares during the quarter. Alecta Tjanstepension Omsesidigt's holdings in Intel were worth $45,638,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of INTC. Thrivent Financial for Lutherans increased its stake in Intel by 0.3% during the fourth quarter. Thrivent Financial for Lutherans now owns 213,378 shares of the chip maker's stock worth $4,356,000 after acquiring an additional 743 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Intel by 785.0% in the fourth quarter. Teacher Retirement System of Texas now owns 252,221 shares of the chip maker's stock valued at $5,057,000 after buying an additional 223,720 shares during the last quarter. TD Private Client Wealth LLC increased its holdings in shares of Intel by 55.0% in the 4th quarter. TD Private Client Wealth LLC now owns 12,110 shares of the chip maker's stock valued at $243,000 after acquiring an additional 4,299 shares during the last quarter. Millstone Evans Group LLC acquired a new stake in Intel during the 4th quarter worth $73,000. Finally, Vanguard Group Inc. boosted its holdings 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 acquiring an additional 6,143,164 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INTC shares. Stifel Nicolaus increased their price objective on Intel from $21.00 to $24.50 and gave the company a "hold" rating in a research note on Monday. Citigroup reaffirmed a "hold" rating on shares of Intel in a research report on Tuesday, July 8th. Cfra Research raised shares of Intel to a "hold" rating in a report on Friday, April 25th. Mizuho increased their price target on Intel from $22.00 to $23.00 and gave the stock a "neutral" rating in a research note on Thursday, July 3rd. Finally, Wells Fargo & Company dropped their price target on Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Five research analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $22.25.

Intel Stock Down 0.1%

Shares of Intel stock traded down $0.02 during trading hours on Tuesday, reaching $23.24. 53,445,722 shares of the company's stock were exchanged, compared to its average volume of 86,188,665. The stock has a market cap of $101.37 billion, a P/E ratio of -5.19 and a beta of 1.15. The company has a 50 day moving average of $21.57 and a two-hundred day moving average of $21.42. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. Intel Corporation has a fifty-two week low of $17.67 and a fifty-two week high of $33.23.

Intel (NASDAQ:INTC - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The firm had revenue of $12.67 billion during the quarter, compared to the consensus estimate of $12.26 billion. During the same period last year, the business posted $0.18 earnings per share. The business's revenue for the quarter was down .4% compared to the same quarter last year. On average, sell-side analysts forecast that Intel Corporation will post -0.11 EPS for the current fiscal year.

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.