Intel Corporation (NASDAQ:INTC) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lessened its holdings in Intel Corporation (NASDAQ:INTC - Free Report) by 50.3% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,047 shares of the chip maker's stock after selling 77,045 shares during the quarter. Axxcess Wealth Management LLC's holdings in Intel were worth $1,727,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Cornerstone Advisory LLC lifted its holdings in shares of Intel by 4.3% in the 4th quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock valued at $198,000 after buying an additional 409 shares during the period. Evergreen Capital Management LLC raised its holdings in Intel by 1.0% in the 4th quarter. Evergreen Capital Management LLC now owns 41,904 shares of the chip maker's stock worth $840,000 after purchasing an additional 419 shares during the period. Federated Hermes Inc. raised its holdings in Intel by 0.3% in the 4th quarter. Federated Hermes Inc. now owns 162,757 shares of the chip maker's stock worth $3,263,000 after purchasing an additional 456 shares during the period. Ausdal Financial Partners Inc. raised its holdings in Intel by 2.0% in the 4th quarter. Ausdal Financial Partners Inc. now owns 24,963 shares of the chip maker's stock worth $501,000 after purchasing an additional 500 shares during the period. Finally, Capital International Sarl raised its holdings in Intel by 4.1% in the 4th quarter. Capital International Sarl now owns 12,971 shares of the chip maker's stock worth $260,000 after purchasing an additional 510 shares during the period. Institutional investors own 64.53% of the company's stock.

Intel Trading Down 1.6%

Intel stock traded down $0.39 during mid-day trading on Friday, hitting $23.43. The company's stock had a trading volume of 49,292,320 shares, compared to its average volume of 86,376,997. The firm has a market capitalization of $102.20 billion, a PE ratio of -5.23 and a beta of 1.15. Intel Corporation has a 1 year low of $17.67 and a 1 year high of $37.16. The company has a current ratio of 1.31, a quick ratio of 0.93 and a debt-to-equity ratio of 0.42. The stock's fifty day moving average is $21.33 and its two-hundred day moving average is $21.31.

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 for the quarter, topping the consensus estimate of $0.01 by $0.12. The company had revenue of $12.67 billion during the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative return on equity of 3.15% and a negative net margin of 36.19%. The firm's revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.18 earnings per share. On average, analysts anticipate that Intel Corporation will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Barclays reaffirmed a "reduce" rating on shares of Intel in a report on Tuesday, April 22nd. Susquehanna reduced their price target on Intel from $24.00 to $22.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Wall Street Zen raised Intel from a "sell" rating to a "hold" rating in a report on Saturday, May 24th. Wells Fargo & Company cut their price objective on Intel from $25.00 to $22.00 and set an "equal weight" rating for the company in a research note on Friday, April 25th. Finally, Cfra Research upgraded Intel to a "hold" rating in a research note on Friday, April 25th. Five analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $21.76.

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.