Alpha Cubed Investments LLC Sells 9,717 Shares of Intel Co. (NASDAQ:INTC)

Alpha Cubed Investments LLC lessened its stake in Intel Co. (NASDAQ:INTC) by 31.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,435 shares of the chip maker’s stock after selling 9,717 shares during the period. Alpha Cubed Investments LLC’s holdings in Intel were worth $503,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tributary Capital Management LLC acquired a new stake in Intel during the 1st quarter worth about $27,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Intel during the first quarter worth approximately $36,000. America First Investment Advisors LLC bought a new stake in Intel in the second quarter worth approximately $25,000. Cyrus J. Lawrence LLC acquired a new position in Intel in the second quarter valued at approximately $27,000. Finally, Richardson Financial Services Inc. bought a new position in shares of Intel during the 4th quarter worth approximately $46,000. 64.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INTC has been the subject of several research analyst reports. Morgan Stanley lowered their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. Northland Securities cut their price objective on shares of Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. New Street Research lowered Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. The Goldman Sachs Group cut their price target on Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a report on Friday, August 2nd. Finally, Cantor Fitzgerald decreased their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Intel presently has a consensus rating of “Hold” and an average price target of $31.96.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger bought 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was purchased at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,975 shares of the company’s stock, valued at $765,576. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.04% of the stock is currently owned by company insiders.

Intel Stock Performance

NASDAQ INTC opened at $23.32 on Wednesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The company has a market capitalization of $99.27 billion, a PE ratio of 24.29 and a beta of 1.03. Intel Co. has a 52-week low of $18.51 and a 52-week high of $51.28. The company has a 50-day simple moving average of $21.47 and a 200 day simple moving average of $29.21.

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

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 2.14%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio (DPR) is currently 52.08%.

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.