Cedar Wealth Management LLC Sells 1,386 Shares of Intel Co. (NASDAQ:INTC)

Cedar Wealth Management LLC decreased its stake in shares of Intel Co. (NASDAQ:INTC) by 27.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 3,606 shares of the chip maker’s stock after selling 1,386 shares during the period. Cedar Wealth Management LLC’s holdings in Intel were worth $112,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Johnson Financial Group Inc. raised its holdings in shares of Intel by 4.5% in the fourth quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after purchasing an additional 247 shares during the last quarter. Summit Financial Strategies Inc. increased its stake in Intel by 3.7% in the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock valued at $371,000 after buying an additional 265 shares during the last quarter. Cape Investment Advisory Inc. lifted its position in shares of Intel by 5.5% during the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after buying an additional 270 shares in the last quarter. Copperwynd Financial LLC increased its position in shares of Intel by 0.6% during the fourth quarter. Copperwynd Financial LLC now owns 45,432 shares of the chip maker’s stock valued at $2,283,000 after acquiring an additional 273 shares during the last quarter. Finally, Adirondack Trust Co. lifted its holdings in Intel by 0.5% during the first quarter. Adirondack Trust Co. now owns 51,783 shares of the chip maker’s stock worth $2,287,000 after acquiring an additional 278 shares during the period. 64.53% of the stock is currently owned by institutional investors.

Intel Price Performance

Shares of NASDAQ INTC opened at $21.14 on Friday. Intel Co. has a 1 year low of $18.51 and a 1 year high of $51.28. The stock has a market capitalization of $89.99 billion, a P/E ratio of 22.02 and a beta of 1.03. The company’s 50-day moving average is $23.92 and its 200 day moving average is $31.15. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm’s revenue was down .8% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. On average, sell-side analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.37%. The ex-dividend date was Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on INTC. Argus downgraded Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Hsbc Global Res cut shares of Intel from a “hold” rating to a “moderate sell” rating in a research note on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Wedbush decreased their target price on Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price target on shares of Intel in a research note on Friday, August 2nd. Six research analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $32.04.

Insider Activity

In other Intel news, CEO Patrick P. Gelsinger acquired 12,500 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the purchase, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.04% of the company’s stock.

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.