Alpha Cubed Investments LLC Lowers Stock Holdings in Intel Co. (NASDAQ:INTC)

Alpha Cubed Investments LLC lessened its holdings in Intel Co. (NASDAQ:INTC) by 31.2% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor 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 institutional investors and hedge funds have also recently modified their holdings of the company. America First Investment Advisors LLC bought a new stake in Intel in the 2nd quarter worth approximately $25,000. Tributary Capital Management LLC purchased a new stake in Intel during the 1st quarter valued at $27,000. Cyrus J. Lawrence LLC purchased a new stake in shares of Intel during the second quarter worth about $27,000. Spartan Fund Management Inc. bought a new position in Intel during the 2nd quarter valued at approximately $31,000. Finally, Financial Connections Group Inc. purchased a new stake in Intel in the 2nd quarter worth approximately $32,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

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

Intel Trading Up 4.2 %

Shares of INTC stock opened at $23.32 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 1.24 and a debt-to-equity ratio of 0.40. Intel Co. has a 12-month low of $18.51 and a 12-month high of $51.28. The stock has a market capitalization of $99.27 billion, a P/E ratio of 24.29 and a beta of 1.03. The firm’s 50 day moving average is $21.47 and its 200 day moving average is $29.21.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The firm had revenue of $12.80 billion during 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 business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter last year, the business earned ($0.05) earnings per share. Research analysts expect that Intel Co. will post -0.47 earnings per share for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.14%. The ex-dividend date was Wednesday, August 7th. Intel’s payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on INTC shares. Deutsche Bank Aktiengesellschaft decreased their target price on Intel from $27.00 to $25.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Bank of America cut shares of Intel from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Susquehanna reduced their target price on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Six 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.96.

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.