Cedar Wealth Management LLC Decreases Stock Position in Intel Co. (NASDAQ:INTC)

Cedar Wealth Management LLC decreased its position in shares of Intel Co. (NASDAQ:INTC) by 58.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,494 shares of the chip maker’s stock after selling 2,112 shares during the period. Cedar Wealth Management LLC’s holdings in Intel were worth $35,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of INTC. Capital International Investors grew its stake in Intel by 16.0% during the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock valued at $4,951,174,000 after purchasing an additional 15,475,631 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Intel by 60.5% during the second quarter. Van ECK Associates Corp now owns 34,591,800 shares of the chip maker’s stock worth $1,071,308,000 after buying an additional 13,035,566 shares in the last quarter. Davis Selected Advisers increased its stake in shares of Intel by 86.2% in the second quarter. Davis Selected Advisers now owns 12,642,316 shares of the chip maker’s stock worth $391,533,000 after buying an additional 5,851,098 shares during the last quarter. Caxton Associates LP acquired a new stake in Intel in the second quarter valued at $162,592,000. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Intel by 2,681.1% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 4,431,749 shares of the chip maker’s stock valued at $137,251,000 after purchasing an additional 4,272,395 shares in the last quarter. 64.53% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Michelle Johnston Holthaus sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total value of $650,000.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.04% of the company’s stock.

Wall Street Analyst Weigh In

INTC has been the subject of a number of research analyst reports. Morgan Stanley lowered their price target on Intel from $36.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, August 2nd. TD Cowen raised shares of Intel to a “hold” rating in a report on Monday, September 16th. Raymond James lowered Intel from an “outperform” rating to a “market perform” rating in a report on Friday, August 2nd. Truist Financial raised their price target on Intel from $25.00 to $26.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Northland Securities lowered their price target on shares of Intel from $42.00 to $28.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Intel currently has an average rating of “Hold” and a consensus target price of $30.12.

Intel Price Performance

INTC stock opened at $24.20 on Wednesday. Intel Co. has a one year low of $18.51 and a one year high of $51.28. The firm has a 50-day moving average of $22.91 and a two-hundred day moving average of $26.21. The firm has a market capitalization of $104.37 billion, a PE ratio of -6.51 and a beta of 1.03. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.44). The business had revenue of $13.30 billion for the quarter, compared to analysts’ expectations of $13.02 billion. Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The business’s quarterly revenue was down 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.28 EPS. On average, analysts forecast that Intel Co. will post -0.83 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.