Wesbanco Bank Inc. cut its position in shares of Intel Co. (NASDAQ:INTC – Free Report) by 11.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 201,453 shares of the chip maker’s stock after selling 25,391 shares during the quarter. Wesbanco Bank Inc.’s holdings in Intel were worth $6,582,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Cantor Fitzgerald Investment Advisor L.P grew its holdings in Intel by 173.6% in the 1st quarter. Cantor Fitzgerald Investment Advisor L.P now owns 539,976 shares of the chip maker’s stock valued at $26,761,000 after buying an additional 342,649 shares during the period. Axiom Financial Strategies LLC boosted its position in shares of Intel by 21.6% in the first quarter. Axiom Financial Strategies LLC now owns 5,944 shares of the chip maker’s stock worth $260,000 after acquiring an additional 1,056 shares during the last quarter. Fairfield Bush & CO. purchased a new stake in Intel in the first quarter valued at approximately $142,000. Retirement Income Solutions Inc increased its position in Intel by 5.1% during the first quarter. Retirement Income Solutions Inc now owns 6,338 shares of the chip maker’s stock worth $314,000 after purchasing an additional 307 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Intel by 26.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,863,459 shares of the chip maker’s stock worth $290,593,000 after purchasing an additional 1,244,247 shares during the period. Institutional investors and hedge funds own 60.10% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on INTC. Sanford C. Bernstein upgraded Intel from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $20.00 to $30.00 in a report on Monday, April 3rd. Mizuho raised their price objective on Intel from $29.00 to $30.00 in a report on Friday, April 28th. Barclays boosted their target price on Intel from $27.00 to $30.00 in a report on Friday, April 28th. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a report on Thursday, March 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Intel from $26.00 to $32.00 in a research note on Friday, April 28th. Seven analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.65.
Intel Stock Up 0.5 %
Shares of INTC stock traded up $0.18 during trading hours on Tuesday, hitting $33.62. 15,752,979 shares of the company were exchanged, compared to its average volume of 48,816,708. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.29 and a current ratio of 1.76. The stock has a market capitalization of $140.23 billion, a price-to-earnings ratio of -49.44 and a beta of 0.87. Intel Co. has a one year low of $24.59 and a one year high of $40.73. The business’s 50-day simple moving average is $31.34 and its two-hundred day simple moving average is $29.63.
Intel (NASDAQ:INTC – Free Report) last issued its earnings results on Thursday, April 27th. The chip maker reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.12. The company had revenue of $11.72 billion during the quarter, compared to analyst estimates of $11.13 billion. Intel had a positive return on equity of 3.06% and a negative net margin of 5.06%. The business’s revenue was down 36.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. Sell-side analysts predict that Intel Co. will post -0.19 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, major shareholder Corp Intel sold 38,500,000 shares of the firm’s stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $40.84, for a total value of $1,572,340,000.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Patrick P. Gelsinger acquired 8,200 shares of Intel stock in a transaction that occurred on Monday, May 1st. The stock was acquired at an average price of $30.41 per share, for a total transaction of $249,362.00. Following the transaction, the chief executive officer now directly owns 138,265 shares of the company’s stock, valued at approximately $4,204,638.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, major shareholder Corp Intel sold 38,500,000 shares of the stock in a transaction on Monday, June 12th. The stock was sold at an average price of $40.84, for a total value of $1,572,340,000.00. The disclosure for this sale can be found here. 0.04% of the stock is currently owned by corporate insiders.
Intel Company Profile
Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.