Alpha Cubed Investments LLC Sells 5,853 Shares of Intel Co. (NASDAQ:INTC)

Alpha Cubed Investments LLC lessened its stake in shares of Intel Co. (NASDAQ:INTC) by 22.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 20,802 shares of the chip maker’s stock after selling 5,853 shares during the period. Alpha Cubed Investments LLC’s holdings in Intel were worth $1,045,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of INTC. New Millennium Group LLC boosted its stake in shares of Intel by 87.2% in the fourth quarter. New Millennium Group LLC now owns 496 shares of the chip maker’s stock worth $25,000 after acquiring an additional 231 shares during the period. Valued Wealth Advisors LLC bought a new position in Intel during the fourth quarter valued at approximately $36,000. Legacy Financial Group LLC bought a new position in Intel during the third quarter valued at approximately $30,000. Raleigh Capital Management Inc. boosted its stake in Intel by 62.8% during the third quarter. Raleigh Capital Management Inc. now owns 938 shares of the chip maker’s stock valued at $33,000 after buying an additional 362 shares during the last quarter. Finally, Financial Connections Group Inc. bought a new position in Intel during the fourth quarter valued at approximately $52,000. Institutional investors own 64.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INTC shares. Needham & Company LLC reissued a “hold” rating on shares of Intel in a research note on Friday, April 26th. Susquehanna decreased their price objective on Intel from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, April 26th. UBS Group upped their price objective on Intel from $46.00 to $50.00 and gave the company a “neutral” rating in a research report on Monday, April 1st. Morgan Stanley decreased their price objective on Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Finally, Raymond James decreased their price objective on Intel from $54.00 to $52.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $39.75.

Intel Stock Down 1.0 %

Shares of NASDAQ:INTC opened at $30.18 on Wednesday. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The stock has a market cap of $128.48 billion, a P/E ratio of 31.74, a price-to-earnings-growth ratio of 3.31 and a beta of 1.00. The business’s 50 day moving average is $40.35 and its 200 day moving average is $42.23. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $0.50 annualized dividend and a yield of 1.66%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Transactions at Intel

In other Intel news, CEO Patrick P. Gelsinger acquired 2,800 shares of the stock in a transaction dated Thursday, February 1st. The stock was purchased at an average price of $42.74 per share, with a total value of $119,672.00. Following the transaction, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at $1,336,693.50. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.04% of the company’s stock.

Intel 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.