Intel Co. (NASDAQ:INTC) Stake Cut by Meyer Handelman Co.

Meyer Handelman Co. decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 21.2% in the 2nd quarter, Holdings Channel reports. The firm owned 569,311 shares of the chip maker’s stock after selling 152,792 shares during the quarter. Meyer Handelman Co.’s holdings in Intel were worth $17,632,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of INTC. Slow Capital Inc. increased its position in Intel by 0.9% in the fourth quarter. Slow Capital Inc. now owns 54,708 shares of the chip maker’s stock worth $2,749,000 after buying an additional 508 shares during the period. Altus Wealth Group LLC increased its holdings in shares of Intel by 29.4% in the 4th quarter. Altus Wealth Group LLC now owns 25,315 shares of the chip maker’s stock worth $1,272,000 after acquiring an additional 5,759 shares during the period. Orion Portfolio Solutions LLC lifted its position in Intel by 3.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after purchasing an additional 2,915 shares during the last quarter. Brookstone Capital Management grew its position in Intel by 65.2% in the 1st quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock worth $3,052,000 after purchasing an additional 27,274 shares during the last quarter. Finally, Callan Capital LLC increased its stake in shares of Intel by 9.1% in the fourth quarter. Callan Capital LLC now owns 17,585 shares of the chip maker’s stock valued at $884,000 after purchasing an additional 1,474 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of Intel stock in a transaction on Monday, August 5th. The stock was bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 0.04% of the stock is currently owned by corporate insiders.

Intel Stock Performance

INTC traded up $1.11 during trading on Tuesday, hitting $20.47. The stock had a trading volume of 77,433,221 shares, compared to its average volume of 52,010,426. The company has a current ratio of 1.57, a quick ratio of 1.14 and a debt-to-equity ratio of 0.43. Intel Co. has a 12 month low of $18.84 and a 12 month high of $51.28. The company has a 50 day simple moving average of $29.87 and a 200-day simple moving average of $35.33. The firm has a market cap of $87.14 billion, a PE ratio of 21.32, a P/E/G ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.82% and a net margin of 1.77%. The business had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the previous year, the firm posted ($0.05) earnings per share. The company’s revenue for the quarter was down .8% on a year-over-year basis. Analysts expect that Intel Co. will post 0.07 EPS for the current year.

Intel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be given a $0.125 dividend. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.44%. Intel’s dividend payout ratio is 52.08%.

Analyst Ratings Changes

INTC has been the subject of several analyst reports. Rosenblatt Securities reiterated a “sell” rating and set a $17.00 price objective on shares of Intel in a research report on Friday, August 2nd. StockNews.com lowered Intel from a “hold” rating to a “sell” rating in a research report on Friday. Susquehanna lowered their price target on Intel from $35.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Morgan Stanley cut their price objective on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Finally, Argus lowered shares of Intel from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Six investment analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $32.04.

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.