Meeder Asset Management Inc. Trims Stake in Intel Co. (NASDAQ:INTC)

Meeder Asset Management Inc. lessened its stake in Intel Co. (NASDAQ:INTC) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,351 shares of the chip maker’s stock after selling 11,932 shares during the period. Meeder Asset Management Inc.’s holdings in Intel were worth $5,864,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. America First Investment Advisors LLC acquired a new stake in Intel during the second quarter valued at $25,000. Frazier Financial Advisors LLC acquired a new stake in shares of Intel during the 4th quarter valued at about $27,000. Burkett Financial Services LLC acquired a new stake in shares of Intel during the 4th quarter valued at about $27,000. Tributary Capital Management LLC purchased a new position in shares of Intel in the 1st quarter valued at about $27,000. Finally, Spartan Fund Management Inc. acquired a new position in Intel in the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Patrick P. Gelsinger purchased 12,500 shares of Intel stock in a transaction dated Monday, August 5th. The shares were acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.04% of the stock is currently owned by insiders.

Intel Stock Performance

Intel stock opened at $19.36 on Friday. The stock has a market cap of $82.78 billion, a price-to-earnings ratio of 20.17 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $25.22 and a 200-day simple moving average of $31.92. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28.

Intel (NASDAQ:INTC) last posted its earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The business had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same period last year, the business earned ($0.05) EPS. Intel’s revenue was down .8% compared to the same quarter last year. On average, analysts expect that Intel Co. will post -0.47 EPS for the current year.

Intel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were given a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a yield of 2.58%. Intel’s payout ratio is currently 52.08%.

Wall Street Analysts Forecast Growth

Several analysts have commented on INTC shares. Benchmark lowered Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. New Street Research cut shares of Intel from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Raymond James cut shares of Intel from an “outperform” rating to a “market perform” rating in a research report on Friday, August 2nd. UBS Group dropped their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Bank of America downgraded shares of Intel from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $35.00 to $23.00 in a research report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Intel currently has an average rating of “Hold” and an average 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.