Modern Wealth Management LLC Grows Position in Intel Co. (NASDAQ:INTC)

Modern Wealth Management LLC increased its position in Intel Co. (NASDAQ:INTC) by 53.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,707 shares of the chip maker’s stock after purchasing an additional 6,487 shares during the period. Modern Wealth Management LLC’s holdings in Intel were worth $370,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Quest Partners LLC increased its position in Intel by 7,370.6% during the 3rd quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock valued at $30,000 after buying an additional 1,253 shares in the last quarter. Townsquare Capital LLC raised its position in shares of Intel by 2.7% in the 3rd quarter. Townsquare Capital LLC now owns 61,109 shares of the chip maker’s stock worth $1,434,000 after purchasing an additional 1,633 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in Intel by 104.9% in the 3rd quarter. CreativeOne Wealth LLC now owns 60,831 shares of the chip maker’s stock worth $1,427,000 after purchasing an additional 31,143 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Intel by 12.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,414,459 shares of the chip maker’s stock valued at $56,643,000 after purchasing an additional 263,429 shares during the last quarter. Finally, Public Sector Pension Investment Board increased its stake in Intel by 6.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 1,292,089 shares of the chip maker’s stock valued at $30,312,000 after purchasing an additional 78,500 shares in the last quarter. Institutional investors own 64.53% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the topic of several analyst reports. JPMorgan Chase & Co. dropped their target price on shares of Intel from $26.00 to $23.00 and set an “underweight” rating on the stock in a research note on Friday, January 31st. Stifel Nicolaus cut their target price on Intel from $25.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, January 31st. Truist Financial decreased their price target on Intel from $22.00 to $21.00 and set a “hold” rating for the company in a research note on Friday, January 31st. UBS Group dropped their price objective on Intel from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 21st. Finally, Benchmark reissued a “hold” rating on shares of Intel in a research report on Friday, January 31st. Four research analysts have rated the stock with a sell rating, twenty-eight have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $27.04.

Intel Trading Up 0.9 %

Intel stock opened at $23.62 on Friday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $45.41. The firm’s 50 day moving average price is $22.30 and its 200-day moving average price is $22.10. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.33 and a quick ratio of 0.98. The stock has a market cap of $102.27 billion, a P/E ratio of -5.39 and a beta of 1.02.

Intel (NASDAQ:INTC) last announced its quarterly earnings results on Thursday, January 30th. The chip maker reported ($0.02) 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%. On average, equities analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

About Intel

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.