Waterfront Wealth Inc. lowered its stake in Intel Co. (NASDAQ:INTC - Free Report) by 44.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,792 shares of the chip maker's stock after selling 21,660 shares during the quarter. Waterfront Wealth Inc.'s holdings in Intel were worth $537,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Geode Capital Management LLC increased its position in Intel by 4.6% during the third quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock worth $2,162,891,000 after buying an additional 4,103,553 shares during the last quarter. Relyea Zuckerberg Hanson LLC increased its position in Intel by 211.6% during the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 28,898 shares of the chip maker's stock worth $579,000 after buying an additional 19,625 shares during the last quarter. Principal Financial Group Inc. increased its position in Intel by 4.4% during the third quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock worth $113,244,000 after buying an additional 204,200 shares during the last quarter. Empirical Asset Management LLC acquired a new position in Intel during the fourth quarter worth approximately $276,000. Finally, Swiss National Bank grew its position in shares of Intel by 0.3% in the third quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker's stock valued at $296,426,000 after purchasing an additional 31,800 shares during the last quarter. Institutional investors and hedge funds own 64.53% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on INTC shares. Barclays decreased their target price on Intel from $25.00 to $23.00 and set an "equal weight" rating on the stock in a research report on Friday, January 17th. Wells Fargo & Company decreased their target price on Intel from $28.00 to $25.00 and set an "equal weight" rating on the stock in a research report on Friday, January 31st. Hsbc Global Res raised Intel from a "moderate sell" rating to a "hold" rating in a research report on Tuesday, January 21st. Bank of America reaffirmed an "underperform" rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Finally, Citigroup decreased their target price on Intel from $22.00 to $21.00 and set a "neutral" rating on the stock in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a sell rating, twenty-seven have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $26.88.
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Intel Price Performance
Shares of NASDAQ:INTC traded down $1.23 during trading on Friday, hitting $24.87. 111,281,705 shares of the company were exchanged, compared to its average volume of 114,188,720. The business's 50 day moving average is $20.84 and its 200-day moving average is $21.65. The company has a market capitalization of $107.67 billion, a P/E ratio of -5.68 and a beta of 1.08. The company has a quick ratio of 0.98, a current ratio of 1.33 and a debt-to-equity ratio of 0.44. Intel Co. has a 1-year low of $18.51 and a 1-year high of $46.63.
Intel (NASDAQ:INTC - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.14). Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. Equities analysts forecast that Intel Co. will post -0.11 earnings per share for the current year.
Intel Company Profile
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Free Report)
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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