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

Alpha Cubed Investments LLC lowered its stake in Intel Co. (NASDAQ:INTC) by 2.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,859 shares of the chip maker’s stock after selling 576 shares during the period. Alpha Cubed Investments LLC’s holdings in Intel were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in INTC. Quest Partners LLC lifted its stake in Intel by 7,370.6% in the third quarter. Quest Partners LLC now owns 1,270 shares of the chip maker’s stock worth $30,000 after acquiring an additional 1,253 shares during the last quarter. West Financial Advisors LLC acquired a new stake in shares of Intel in the 4th quarter valued at $31,000. Groupama Asset Managment lifted its position in shares of Intel by 6.3% during the 3rd quarter. Groupama Asset Managment now owns 137,181 shares of the chip maker’s stock worth $32,000 after purchasing an additional 8,084 shares during the last quarter. Sawyer & Company Inc acquired a new position in shares of Intel during the fourth quarter worth $32,000. Finally, FSA Wealth Management LLC purchased a new position in Intel in the third quarter valued at $34,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INTC. Citigroup lowered their price objective on Intel from $22.00 to $21.00 and set a “neutral” rating for the company in a research report on Tuesday. HSBC raised Intel from a “reduce” rating to a “hold” rating in a report on Tuesday. The Goldman Sachs Group cut their price objective on shares of Intel from $22.00 to $21.00 and set a “sell” rating on the stock in a report on Thursday, October 17th. UBS Group lowered their target price on shares of Intel from $26.00 to $23.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, Barclays reduced their price target on shares of Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Five investment analysts have rated the stock with a sell rating, twenty-six have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $28.81.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This trade represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.04% of the company’s stock.

Intel Price Performance

Shares of NASDAQ:INTC opened at $21.77 on Wednesday. Intel Co. has a 52 week low of $18.51 and a 52 week high of $50.30. The company has a 50-day moving average price of $21.48 and a 200 day moving average price of $23.20. The company has a market cap of $93.89 billion, a P/E ratio of -5.85, a PEG ratio of 9.46 and a beta of 1.07. The company has a quick ratio of 0.97, a current ratio of 1.31 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last posted its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business had revenue of $13.30 billion during the quarter, compared to analyst estimates of $13.02 billion. During the same period in the prior year, the business earned $0.28 earnings per share. The firm’s quarterly revenue was down 6.3% compared to the same quarter last year. Research analysts predict that Intel Co. will post -0.87 earnings per share for the current 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.