Forefront Wealth Management Inc. Makes New $722,000 Investment in Intel Co. (NASDAQ:INTC)

Forefront Wealth Management Inc. bought a new position in Intel Co. (NASDAQ:INTC - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 31,773 shares of the chip maker's stock, valued at approximately $722,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cornerstone Advisory LLC boosted its holdings in shares of Intel by 4.3% during the fourth quarter. Cornerstone Advisory LLC now owns 9,863 shares of the chip maker's stock worth $198,000 after purchasing an additional 409 shares during the period. Evergreen Capital Management LLC boosted its holdings in shares of Intel by 1.0% during the fourth 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. boosted its holdings in shares of Intel by 0.3% during the fourth 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. boosted its holdings in shares of Intel by 2.0% during the fourth 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, Wealth Quarterback LLC boosted its holdings in shares of Intel by 2.0% during the fourth quarter. Wealth Quarterback LLC now owns 25,458 shares of the chip maker's stock worth $510,000 after purchasing an additional 508 shares during the period. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Stock Down 3.0%

INTC stock opened at $20.14 on Monday. The stock's fifty day simple moving average is $20.43 and its two-hundred day simple moving average is $21.12. 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. The stock has a market cap of $87.85 billion, a P/E ratio of -4.60 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on INTC shares. Wedbush cut their price objective 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. Benchmark reissued a "hold" rating on shares of Intel in a research report on Friday, April 25th. UBS Group dropped their price target on shares of Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Friday, April 25th. Citigroup reissued a "sell" rating on shares of Intel in a research report on Friday, April 25th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Intel in a research report on Wednesday, May 21st. They issued a "hold" rating and a $23.00 price target on the stock. Six equities 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, Intel has a consensus rating of "Hold" and an average target price 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.

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