NewEdge Wealth LLC Has $8.40 Million Stake in Intel Co. (NASDAQ:INTC)

NewEdge Wealth LLC boosted its stake in Intel Co. (NASDAQ:INTC) by 254.4% in the first quarter, HoldingsChannel.com reports. The firm owned 131,183 shares of the chip maker’s stock after buying an additional 94,163 shares during the period. NewEdge Wealth LLC’s holdings in Intel were worth $8,396,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Elite Wealth Management Inc. boosted its position in Intel by 17.6% during the first quarter. Elite Wealth Management Inc. now owns 29,751 shares of the chip maker’s stock valued at $1,904,000 after acquiring an additional 4,454 shares during the last quarter. Lincoln National Corp boosted its position in Intel by 8.5% during the first quarter. Lincoln National Corp now owns 47,960 shares of the chip maker’s stock valued at $3,069,000 after acquiring an additional 3,755 shares during the last quarter. Slow Capital Inc. boosted its position in Intel by 25.8% during the first quarter. Slow Capital Inc. now owns 47,125 shares of the chip maker’s stock valued at $3,016,000 after acquiring an additional 9,678 shares during the last quarter. Bruni J V & Co. Co. boosted its position in Intel by 31.0% during the first quarter. Bruni J V & Co. Co. now owns 198,098 shares of the chip maker’s stock valued at $12,678,000 after acquiring an additional 46,850 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Intel by 75.3% during the first quarter. Rafferty Asset Management LLC now owns 4,734,397 shares of the chip maker’s stock valued at $303,001,000 after acquiring an additional 2,032,966 shares during the last quarter. Institutional investors and hedge funds own 63.17% of the company’s stock.

In other Intel news, EVP Gregory M. Bryant sold 2,842 shares of the firm’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $57.83, for a total value of $164,352.86. Also, Director Dion J. Weisler purchased 4,464 shares of the business’s stock in a transaction on Tuesday, May 4th. The stock was purchased at an average cost of $56.00 per share, with a total value of $249,984.00. Following the completion of the acquisition, the director now owns 4,464 shares in the company, valued at $249,984. The disclosure for this purchase can be found here. 0.02% of the stock is owned by company insiders.

INTC traded down $0.37 on Wednesday, hitting $55.50. The company’s stock had a trading volume of 374,635 shares, compared to its average volume of 31,917,502. The stock’s 50 day simple moving average is $57.77. The company has a current ratio of 1.90, a quick ratio of 1.54 and a debt-to-equity ratio of 0.42. Intel Co. has a 12 month low of $43.61 and a 12 month high of $68.49. The stock has a market cap of $224.11 billion, a price-to-earnings ratio of 12.51, a P/E/G ratio of 1.67 and a beta of 0.61.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Wednesday, April 21st. The chip maker reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.15 by $0.24. Intel had a net margin of 23.93% and a return on equity of 27.59%. The firm had revenue of $18.60 billion during the quarter, compared to the consensus estimate of $17.97 billion. During the same period last year, the firm earned $1.45 EPS. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. Research analysts anticipate that Intel Co. will post 4.61 EPS for the current year.

A number of research firms have recently issued reports on INTC. Evercore ISI increased their price objective on shares of Intel from $68.00 to $75.00 and gave the stock an “in-line” rating in a research report on Wednesday, March 24th. Wells Fargo & Company increased their price objective on shares of Intel from $60.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 24th. Zacks Investment Research lowered shares of Intel from a “buy” rating to a “hold” rating and set a $65.00 target price on the stock. in a report on Thursday, March 25th. KeyCorp lowered their target price on shares of Intel from $86.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, May 20th. Finally, JPMorgan Chase & Co. set a $80.00 target price on shares of Intel and gave the stock a “buy” rating in a report on Wednesday, April 7th. Thirteen equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twelve have issued a buy rating to the stock. Intel presently has an average rating of “Hold” and an average price target of $62.32.

About Intel

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices for retail, industrial, and consumer uses worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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