Meridian Investment Counsel Inc. Trims Stock Holdings in Intel Co. (NASDAQ:INTC)

Meridian Investment Counsel Inc. reduced its stake in Intel Co. (NASDAQ:INTC) by 5.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,463 shares of the chip maker’s stock after selling 4,034 shares during the period. Meridian Investment Counsel Inc.’s holdings in Intel were worth $2,213,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in INTC. Tennessee Valley Asset Management Partners bought a new stake in shares of Intel during the 4th quarter valued at about $117,000. Western Wealth Management LLC grew its position in Intel by 19.3% in the fourth quarter. Western Wealth Management LLC now owns 39,107 shares of the chip maker’s stock worth $1,965,000 after acquiring an additional 6,319 shares in the last quarter. Fidelis Capital Partners LLC raised its position in Intel by 84.2% during the fourth quarter. Fidelis Capital Partners LLC now owns 18,529 shares of the chip maker’s stock valued at $931,000 after purchasing an additional 8,472 shares in the last quarter. HTLF Bank bought a new position in shares of Intel during the 4th quarter valued at about $760,000. Finally, Knights of Columbus Asset Advisors LLC lifted its position in Intel by 1.8% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 40,134 shares of the chip maker’s stock worth $2,017,000 after buying an additional 728 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Analysts Set New Price Targets

INTC has been the subject of a number of recent research reports. Hsbc Global Res lowered shares of Intel from a “hold” rating to a “moderate sell” rating in a report on Friday, August 2nd. Mizuho downgraded Intel from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $36.00 to $22.00 in a report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft dropped their target price on Intel from $38.00 to $27.00 and set a “hold” rating for the company in a report on Friday, August 2nd. Morgan Stanley decreased their price target on 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, Truist Financial dropped their price objective on Intel from $33.00 to $25.00 and set a “hold” rating for the company in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Intel has a consensus rating of “Hold” and an average price target of $32.04.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at approximately $765,576. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is owned by insiders.

Intel Stock Up 3.1 %

Shares of Intel stock traded up $0.64 during trading on Monday, hitting $21.51. The company’s stock had a trading volume of 56,677,402 shares, compared to its average volume of 52,257,730. Intel Co. has a 52 week low of $18.84 and a 52 week high of $51.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.14 and a current ratio of 1.57. The company has a fifty day simple moving average of $29.26 and a two-hundred day simple moving average of $34.85. The company has a market capitalization of $91.57 billion, a PE ratio of 22.22, a P/E/G ratio of 17.38 and a beta of 1.05.

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

Intel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.32%. Intel’s payout ratio is presently 52.08%.

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.