Alpha Omega Wealth Management LLC Sells 15,309 Shares of Intel Co. (NASDAQ:INTC)

Alpha Omega Wealth Management LLC reduced its position in Intel Co. (NASDAQ:INTC) by 13.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,021 shares of the chip maker’s stock after selling 15,309 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Intel were worth $2,158,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in INTC. Vanguard Group Inc. increased its stake in Intel by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 369,099,204 shares of the chip maker’s stock valued at $7,400,439,000 after purchasing an additional 6,143,164 shares in the last quarter. Geode Capital Management LLC grew its position in Intel by 3.2% during the fourth quarter. Geode Capital Management LLC now owns 95,488,444 shares of the chip maker’s stock valued at $1,909,761,000 after buying an additional 2,978,346 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Intel by 8.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 63,263,339 shares of the chip maker’s stock valued at $1,268,430,000 after acquiring an additional 4,793,927 shares during the period. Norges Bank purchased a new stake in shares of Intel in the fourth quarter valued at approximately $1,246,569,000. Finally, Northern Trust Corp increased its holdings in Intel by 15.5% in the 4th quarter. Northern Trust Corp now owns 45,811,555 shares of the chip maker’s stock worth $918,522,000 after acquiring an additional 6,157,853 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Intel Trading Up 7.8%

INTC opened at $22.08 on Wednesday. The business’s 50 day moving average is $20.35 and its two-hundred day moving average is $21.22. Intel Co. has a 52 week low of $17.67 and a 52 week high of $37.16. The firm has a market cap of $96.31 billion, a price-to-earnings ratio of -5.04 and a beta of 1.12. 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 (NASDAQ:INTC) last released its earnings results on Thursday, April 24th. The chip maker reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.12. Intel had a negative return on equity of 3.27% and a negative net margin of 35.32%. The business had revenue of $12.67 billion for the quarter, compared to analyst estimates of $12.26 billion. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts predict that Intel Co. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on INTC shares. Needham & Company LLC reissued a “hold” rating on shares of Intel in a report on Friday, April 25th. UBS Group decreased their target price on shares of Intel from $22.00 to $21.00 and set a “neutral” rating on the stock in a report on Friday, April 25th. Cfra Research upgraded Intel to a “hold” rating in a report on Friday, April 25th. Cantor Fitzgerald cut their target price on Intel from $29.00 to $20.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Finally, Susquehanna reduced their price target on shares of Intel from $24.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a sell rating, twenty-five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Intel has a consensus rating of “Hold” and an average target price of $21.57.

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.