Axxcess Wealth Management LLC Sells 5,379 Shares of Intel Co. (NASDAQ:INTC)

Axxcess Wealth Management LLC cut its holdings in Intel Co. (NASDAQ:INTC) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,092 shares of the chip maker’s stock after selling 5,379 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Intel were worth $3,069,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its stake in shares of Intel by 264.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 19,617,088 shares of the chip maker’s stock valued at $393,323,000 after purchasing an additional 14,227,458 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Intel by 28.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 58,469,412 shares of the chip maker’s stock valued at $1,371,692,000 after buying an additional 12,865,308 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Intel by 224.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 10,413,544 shares of the chip maker’s stock worth $244,302,000 after acquiring an additional 7,207,785 shares in the last quarter. State Street Corp boosted its stake in shares of Intel by 2.8% during the 3rd quarter. State Street Corp now owns 197,958,739 shares of the chip maker’s stock worth $4,644,112,000 after acquiring an additional 5,417,753 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Intel by 4.6% during the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker’s stock valued at $2,162,891,000 after acquiring an additional 4,103,553 shares during the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Intel Trading Up 0.9 %

Shares of INTC opened at $25.92 on Wednesday. The stock has a fifty day moving average price of $21.68 and a two-hundred day moving average price of $21.93. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.33. Intel Co. has a 52-week low of $18.51 and a 52-week high of $45.41. The company has a market cap of $112.23 billion, a price-to-earnings ratio of -5.92 and a beta of 1.02.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share 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%. Analysts predict that Intel Co. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on INTC. Hsbc Global Res upgraded Intel from a “moderate sell” rating to a “hold” rating in a report on Tuesday, January 21st. Rosenblatt Securities reaffirmed a “sell” rating and set a $20.00 price objective on shares of Intel in a report on Thursday, January 30th. UBS Group lowered their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 21st. Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Finally, Mizuho lowered their price target on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Friday, January 10th. Four investment analysts have rated the stock with a sell rating, twenty-eight have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $27.04.

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.