Axxcess Wealth Management LLC Lowers Stock Holdings in Intel Corporation (NASDAQ:INTC)

Axxcess Wealth Management LLC cut its stake in shares of Intel Corporation (NASDAQ:INTC - Free Report) by 50.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 76,047 shares of the chip maker's stock after selling 77,045 shares during the period. Axxcess Wealth Management LLC's holdings in Intel were worth $1,727,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Intel by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker's stock valued at $7,400,439,000 after buying an additional 6,143,164 shares during the period. Geode Capital Management LLC grew its stake in shares of Intel by 3.2% during 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 buying an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Intel by 8.2% during the 4th 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 buying an additional 4,793,927 shares during the period. Norges Bank purchased a new stake in shares of Intel during the 4th quarter valued at $1,246,569,000. Finally, Northern Trust Corp grew its stake in shares of 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 buying an additional 6,157,853 shares during the period. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Performance

Shares of Intel stock opened at $23.82 on Friday. The firm has a market cap of $103.90 billion, a PE ratio of -5.32 and a beta of 1.15. The firm's 50-day simple moving average is $21.27 and its 200-day simple moving average is $21.29. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.93 and a current ratio of 1.31. Intel Corporation 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 (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.12. The business had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. Intel had a negative net margin of 36.19% and a negative return on equity of 3.15%. The company's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 EPS. Equities analysts forecast that Intel Corporation will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Rosenblatt Securities lowered their price objective on shares of Intel from $18.00 to $14.00 and set a "sell" rating for the company in a research note on Friday, April 25th. Morgan Stanley reduced their target price on shares of Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Deutsche Bank Aktiengesellschaft started coverage on shares of Intel in a report on Wednesday, May 21st. They set a "hold" rating and a $23.00 target price on the stock. Seaport Res Ptn upgraded shares of Intel to a "strong sell" rating in a report on Wednesday, April 30th. Finally, Wells Fargo & Company reduced their target price on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a report on Friday, April 25th. Five investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Intel has an average rating of "Hold" and an average target price of $21.76.

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.

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