Independent Advisor Alliance Purchases 30,804 Shares of Intel Corporation (NASDAQ:INTC)

Key Points

• Independent Advisor Alliance increased its stake in Intel Corporation (NASDAQ:INTC) by 38.5% to 110,907 shares, now valued at $2,519,000.
• Vanguard Group and other hedge funds also raised their stakes in Intel, with Vanguard's holdings now valued at $8.57 billion.
• Intel's latest quarterly earnings showed a loss of ($0.10) earnings per share, missing estimates while revenue increased by 0.5% year-over-year.

Independent Advisor Alliance raised its stake in Intel Corporation (NASDAQ:INTC - Free Report) by 38.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,907 shares of the chip maker's stock after acquiring an additional 30,804 shares during the quarter. Independent Advisor Alliance's holdings in Intel were worth $2,519,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Intel by 2.2% in the first quarter. Vanguard Group Inc. now owns 377,390,437 shares of the chip maker's stock valued at $8,570,537,000 after acquiring an additional 8,291,233 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Intel by 8.2% in the fourth 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 acquiring an additional 4,793,927 shares during the last quarter. Northern Trust Corp lifted 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 in the last quarter. Invesco Ltd. lifted its stake in shares of Intel by 1.3% during the 1st quarter. Invesco Ltd. now owns 43,651,076 shares of the chip maker's stock valued at $991,316,000 after buying an additional 562,246 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Intel by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 35,025,596 shares of the chip maker's stock valued at $795,431,000 after buying an additional 1,086,836 shares in the last quarter. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

INTC has been the topic of a number of recent research reports. Sanford C. Bernstein dropped their price target on shares of Intel from $25.00 to $21.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC restated a "hold" rating on shares of Intel in a research note on Friday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Intel from $20.00 to $21.00 and gave the company an "underweight" rating in a research note on Friday, July 25th. Citigroup restated a "hold" rating on shares of Intel in a research note on Tuesday, July 8th. Finally, Cfra Research upgraded shares of Intel to a "hold" rating in a research note on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $22.17.

Intel Trading Up 3.7%

Shares of INTC opened at $20.68 on Tuesday. The stock has a market capitalization of $90.52 billion, a P/E ratio of -4.34 and a beta of 1.22. The company has a quick ratio of 0.92, a current ratio of 1.24 and a debt-to-equity ratio of 0.42. The firm has a fifty day simple moving average of $21.58 and a two-hundred day simple moving average of $21.48. Intel Corporation has a twelve month low of $17.67 and a twelve month high of $27.55.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The chip maker reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.11). The firm had revenue of $12.86 billion for the quarter, compared to analysts' expectations of $11.88 billion. Intel had a negative net margin of 38.64% and a negative return on equity of 3.78%. The company's quarterly revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS. On average, research analysts anticipate that Intel Corporation will post -0.11 EPS for the current 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.

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