Westbourne Investments Inc. Takes Position in Intel Co. (NASDAQ:INTC)

Westbourne Investments Inc. purchased a new position in shares of Intel Co. (NASDAQ:INTC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,030 shares of the chip maker's stock, valued at approximately $341,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INTC. Relyea Zuckerberg Hanson LLC increased its stake in shares of Intel by 211.6% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker's stock worth $579,000 after acquiring an additional 19,625 shares during the period. Principal Financial Group Inc. grew its position in Intel by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock worth $113,244,000 after purchasing an additional 204,200 shares during the period. Empirical Asset Management LLC acquired a new stake in Intel during the 4th quarter worth about $276,000. Freestone Grove Partners LP purchased a new position in shares of Intel during the 4th quarter valued at about $62,654,000. Finally, InvesTrust acquired a new position in shares of Intel in the 4th quarter valued at about $3,696,000. Institutional investors and hedge funds own 64.53% of the company's stock.

Analyst Upgrades and Downgrades

INTC has been the subject of several recent research reports. Cfra Research upgraded Intel to a "hold" rating in a research report on Friday, April 25th. Citigroup reaffirmed a "sell" rating on shares of Intel in a report on Friday, April 25th. Wedbush decreased their target price on shares of Intel from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. Wells Fargo & Company dropped their price target on shares of Intel from $25.00 to $22.00 and set an "equal weight" rating on the stock in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Intel from $23.00 to $20.00 and set an "underweight" rating for the company in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Intel has an average rating of "Hold" and an average target price of $22.23.

Intel Trading Up 3.2 %

Intel stock traded up $0.64 during trading on Friday, reaching $20.62. 63,092,152 shares of the company were exchanged, compared to its average volume of 79,652,933. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The stock's 50 day simple moving average is $21.47 and its two-hundred day simple moving average is $21.77. The company has a market capitalization of $89.92 billion, a P/E ratio of -4.71 and a beta of 1.13. Intel Co. has a 52-week low of $17.67 and a 52-week high of $37.16.

Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.12. Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. 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 previous year, the company posted $0.18 EPS. The company's revenue was down .4% compared to the same quarter last year. On average, equities research analysts expect that Intel Co. will post -0.11 earnings per share for the current fiscal year.

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.