Cedar Wealth Management LLC Sells 2,112 Shares of Intel Co. (NASDAQ:INTC)

Cedar Wealth Management LLC decreased its position in Intel Co. (NASDAQ:INTC) by 58.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,494 shares of the chip maker’s stock after selling 2,112 shares during the quarter. Cedar Wealth Management LLC’s holdings in Intel were worth $35,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital International Investors increased its position in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after buying an additional 15,475,631 shares during the period. Primecap Management Co. CA boosted its position in shares of Intel by 2.2% during the 2nd quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after acquiring an additional 1,697,550 shares in the last quarter. Van ECK Associates Corp increased its stake in Intel by 27.2% in the third quarter. Van ECK Associates Corp now owns 44,013,936 shares of the chip maker’s stock valued at $967,426,000 after acquiring an additional 9,422,136 shares during the period. Price T Rowe Associates Inc. MD raised its position in Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after purchasing an additional 2,457,243 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in Intel by 1.3% during the second quarter. Legal & General Group Plc now owns 37,513,226 shares of the chip maker’s stock valued at $1,161,779,000 after purchasing an additional 487,191 shares in the last quarter. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Trading Down 2.6 %

Shares of NASDAQ:INTC opened at $24.20 on Wednesday. The company’s fifty day simple moving average is $22.91 and its 200 day simple moving average is $26.21. The firm has a market cap of $104.37 billion, a price-to-earnings ratio of -6.51 and a beta of 1.03. 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 Co. has a 12 month low of $18.51 and a 12 month high of $51.28.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.44). The firm had revenue of $13.30 billion for the quarter, compared to analyst estimates of $13.02 billion. Intel had a negative return on equity of 1.71% and a negative net margin of 29.42%. The firm’s quarterly revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. As a group, research analysts forecast that Intel Co. will post -0.83 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on INTC. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research report on Friday, August 2nd. Stifel Nicolaus reaffirmed a “hold” rating and set a $25.00 price objective (down previously from $28.00) on shares of Intel in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Intel from $27.00 to $25.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Roth Mkm cut their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $30.12.

Insider Transactions at Intel

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of Intel stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the sale, the executive vice president now owns 273,258 shares of the company’s stock, valued at approximately $7,104,708. The trade was a 8.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company 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.