Today: The Meeder Asset Management Inc. Reduces Stake in Intel Corp. (INTC)

The Meeder Asset Management Inc. Reduces Stake in Intel Corp. (INTC)

Meeder Asset Management Inc. reduced its position in Intel Corp. (NASDAQ:INTC) by 14.5% during the second quarter, Holdings Channel reports. The institutional investor owned 202,244 shares of the chip maker’s stock after selling 34,411 shares during the period. Intel Corp. accounts for approximately 0.6% of Meeder Asset Management Inc.’s investment portfolio, making the stock its 27th largest position. Meeder Asset Management Inc.’s holdings in Intel Corp. were worth $6,635,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Moreno Evelyn V boosted its position in Intel Corp. by 7.4% in the first quarter. Moreno Evelyn V now owns 160,512 shares of the chip maker’s stock worth $5,192,000 after buying an additional 11,064 shares in the last quarter. Stokes & Hubbell Capital Management LLC boosted its position in Intel Corp. by 7.1% in the first quarter. Stokes & Hubbell Capital Management LLC now owns 63,191 shares of the chip maker’s stock worth $2,044,000 after buying an additional 4,194 shares in the last quarter. Watch Point Trust Co boosted its position in Intel Corp. by 10.2% in the first quarter. Watch Point Trust Co now owns 89,950 shares of the chip maker’s stock worth $2,910,000 after buying an additional 8,347 shares in the last quarter. Headinvest LLC boosted its position in Intel Corp. by 2.3% in the first quarter. Headinvest LLC now owns 10,397 shares of the chip maker’s stock worth $336,000 after buying an additional 231 shares in the last quarter. Finally, PGGM Investments boosted its position in Intel Corp. by 1.0% in the first quarter. PGGM Investments now owns 4,711,900 shares of the chip maker’s stock worth $152,430,000 after buying an additional 48,411 shares in the last quarter. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Intel Corp. (NASDAQ:INTC) traded down 0.43% during midday trading on Monday, reaching $37.29. The company had a trading volume of 15,788,142 shares. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36. The stock has a 50-day moving average price of $36.91 and a 200 day moving average price of $33.70. The company has a market capitalization of $176.42 billion, a PE ratio of 18.08 and a beta of 1.09.

Intel Corp. (NASDAQ:INTC) last issued its earnings results on Wednesday, July 20th. The chip maker reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.06. The firm had revenue of $13.50 billion for the quarter, compared to the consensus estimate of $13.54 billion. Intel Corp. had a return on equity of 19.99% and a net margin of 17.84%. The company’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.55 EPS. Equities analysts forecast that Intel Corp. will post $2.58 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Thursday, November 3rd. Intel Corp.’s dividend payout ratio is presently 50.24%.

Several equities analysts have recently commented on the company. Pacific Crest reiterated a “buy” rating and set a $44.00 target price on shares of Intel Corp. in a research note on Thursday, October 6th. KeyCorp increased their target price on Intel Corp. from $42.00 to $44.00 and gave the company an “overweight” rating in a research note on Monday, October 3rd. BlueFin Research reiterated a “buy” rating on shares of Intel Corp. in a research note on Monday, October 3rd. B. Riley reiterated a “buy” rating and set a $45.00 target price (up from $42.00) on shares of Intel Corp. in a research note on Friday, September 16th. Finally, Citigroup Inc. increased their target price on Intel Corp. from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Monday, September 19th. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and thirty-two have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $39.73.

In other Intel Corp. news, Chairman Andy D. Bryant sold 445,095 shares of the firm’s stock in a transaction on Monday, July 25th. The stock was sold at an average price of $34.69, for a total value of $15,440,345.55. Following the sale, the chairman now owns 399,557 shares of the company’s stock, valued at approximately $13,860,632.33. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory R. Pearson sold 1,506 shares of the firm’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $34.46, for a total value of $51,896.76. Following the completion of the sale, the vice president now directly owns 84,505 shares in the company, valued at approximately $2,912,042.30. The disclosure for this sale can be found here. 0.09% of the stock is owned by company insiders.

Intel Corp. Company Profile

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.

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