Intel Co. (NASDAQ:INTC) is Cubic Asset Management LLC’s 4th Largest Position

Cubic Asset Management LLC reduced its stake in shares of Intel Co. (NASDAQ:INTC) by 1.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 133,257 shares of the chip maker’s stock after selling 2,239 shares during the quarter. Intel makes up approximately 2.5% of Cubic Asset Management LLC’s investment portfolio, making the stock its 4th largest position. Cubic Asset Management LLC’s holdings in Intel were worth $6,900,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Morgan Stanley lifted its stake in Intel by 3.8% in the first quarter. Morgan Stanley now owns 30,413,363 shares of the chip maker’s stock worth $1,645,971,000 after acquiring an additional 1,108,810 shares during the period. Voloridge Investment Management LLC purchased a new stake in Intel in the first quarter worth about $394,000. Modus Advisors LLC purchased a new stake in Intel in the second quarter worth about $25,000. Thomasville National Bank lifted its stake in Intel by 4.8% in the second quarter. Thomasville National Bank now owns 212,804 shares of the chip maker’s stock worth $12,732,000 after acquiring an additional 9,685 shares during the period. Finally, Park National Corp OH lifted its stake in Intel by 0.3% in the second quarter. Park National Corp OH now owns 844,848 shares of the chip maker’s stock worth $50,547,000 after acquiring an additional 2,904 shares during the period. 64.41% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ INTC opened at $44.25 on Thursday. The business’s 50 day moving average price is $51.00 and its 200 day moving average price is $55.28. The firm has a market cap of $181.34 billion, a P/E ratio of 8.15, a P/E/G ratio of 1.50 and a beta of 0.72. Intel Co. has a 52 week low of $43.63 and a 52 week high of $69.29. The company has a quick ratio of 1.58, a current ratio of 1.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last issued its earnings results on Thursday, October 22nd. The chip maker reported $1.11 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.01. The firm had revenue of $18.33 billion for the quarter, compared to analyst estimates of $18.26 billion. Intel had a return on equity of 31.55% and a net margin of 29.97%. Intel’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.42 earnings per share. As a group, research analysts expect that Intel Co. will post 4.86 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Saturday, November 7th will be given a $0.33 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.32 annualized dividend and a yield of 2.98%. Intel’s dividend payout ratio is presently 27.10%.

In other Intel news, VP Kevin Thomas Mcbride sold 4,400 shares of the company’s stock in a transaction that occurred on Monday, September 21st. The stock was sold at an average price of $49.28, for a total value of $216,832.00. Following the sale, the vice president now owns 14,214 shares in the company, valued at approximately $700,465.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Navin Shenoy sold 2,847 shares of the company’s stock in a transaction that occurred on Friday, July 31st. The stock was sold at an average price of $48.18, for a total value of $137,168.46. Following the completion of the sale, the executive vice president now owns 71,807 shares in the company, valued at approximately $3,459,661.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 7,491 shares of company stock worth $365,878. Insiders own 0.04% of the company’s stock.

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Intel from $60.00 to $55.00 and set a “hold” rating for the company in a research note on Friday, October 23rd. Truist lowered their price objective on shares of Intel from $61.00 to $51.00 in a research note on Friday, October 23rd. BNP Paribas downgraded shares of Intel from an “outperform” rating to an “underperform” rating in a report on Friday, July 24th. Sanford C. Bernstein reiterated a “sell” rating and issued a $40.00 target price on shares of Intel in a report on Monday. Finally, SVB Leerink began coverage on shares of Intel in a report on Friday, July 24th. They issued a “hold” rating for the company. Thirteen investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $57.97.

About Intel

Intel Corporation designs, manufactures, and sells essential technologies for the cloud, smart, and connected devices worldwide. The company operates through DCG, IOTG, Mobileye, NSG, PSG, CCG, and All Other segments. It offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and non-platform or adjacent products comprising accelerators, boards and systems, connectivity products, and memory and storage products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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