Meridian Investment Counsel Inc. Has $3.31 Million Position in Intel Corporation (NASDAQ:INTC)

Meridian Investment Counsel Inc. lowered its position in Intel Corporation (NASDAQ:INTC) by 0.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 91,822 shares of the chip maker’s stock after selling 200 shares during the period. Intel Corporation comprises approximately 2.0% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 6th largest position. Meridian Investment Counsel Inc.’s holdings in Intel Corporation were worth $3,312,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Cordasco Financial Network increased its stake in Intel Corporation by 0.7% in the first quarter. Cordasco Financial Network now owns 5,699 shares of the chip maker’s stock worth $206,000 after buying an additional 38 shares in the last quarter. First Hawaiian Bank boosted its position in shares of Intel Corporation by 0.9% in the first quarter. First Hawaiian Bank now owns 5,769 shares of the chip maker’s stock worth $208,000 after buying an additional 50 shares during the last quarter. First Command Financial Services Inc. boosted its position in shares of Intel Corporation by 0.4% in the first quarter. First Command Financial Services Inc. now owns 12,607 shares of the chip maker’s stock worth $455,000 after buying an additional 51 shares during the last quarter. Hudock Capital Group LLC boosted its position in shares of Intel Corporation by 0.4% in the first quarter. Hudock Capital Group LLC now owns 12,570 shares of the chip maker’s stock worth $453,000 after buying an additional 53 shares during the last quarter. Finally, Lederer & Associates Investment Counsel CA boosted its position in shares of Intel Corporation by 0.9% in the first quarter. Lederer & Associates Investment Counsel CA now owns 9,345 shares of the chip maker’s stock worth $337,000 after buying an additional 80 shares during the last quarter. 67.31% of the stock is owned by institutional investors.

Intel Corporation (NASDAQ:INTC) traded down 0.45% during midday trading on Friday, hitting $35.01. The stock had a trading volume of 16,231,408 shares. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The stock has a market cap of $164.51 billion, a price-to-earnings ratio of 13.36 and a beta of 1.01. The company has a 50-day moving average of $35.09 and a 200-day moving average of $35.65.

Intel Corporation (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 27th. The chip maker reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $14.76 billion during the quarter, compared to the consensus estimate of $14.39 billion. Intel Corporation had a return on equity of 21.86% and a net margin of 20.60%. Intel Corporation’s quarterly revenue was up 9.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.59 earnings per share. Equities research analysts forecast that Intel Corporation will post $3.01 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be issued a $0.2725 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.09 dividend on an annualized basis and a yield of 3.11%. Intel Corporation’s payout ratio is 41.76%.

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A number of equities analysts have issued reports on the stock. B. Riley reissued a “buy” rating and set a $44.00 price objective on shares of Intel Corporation in a research note on Wednesday, May 3rd. Vetr lowered shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 price objective on the stock. in a research note on Tuesday, August 8th. BidaskClub upgraded shares of Intel Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Jefferies Group LLC set a $38.00 target price on shares of Intel Corporation and gave the stock a “hold” rating in a research note on Saturday, June 3rd. Finally, Sanford C. Bernstein set a $30.00 price objective on shares of Intel Corporation and gave the company a “sell” rating in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $40.55.

In other Intel Corporation news, CEO Brian M. Krzanich sold 72,173 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $33.69, for a total transaction of $2,431,508.37. Following the sale, the chief executive officer now owns 534,746 shares of the company’s stock, valued at $18,015,592.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $35.47, for a total transaction of $496,438.12. Following the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $54,481.92. The disclosure for this sale can be found here. Insiders sold 91,921 shares of company stock valued at $3,130,162 over the last 90 days. 0.09% of the stock is currently owned by company insiders.

About Intel Corporation

Intel Corporation is engaged in designing and manufacturing products and technologies, such as the cloud. The Company’s segments are Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Non-Volatile Memory Solutions Group (NSG), Intel Security Group (ISecG), Programmable Solutions Group (PSG), All Other and New Technology Group (NTG).

Institutional Ownership by Quarter for Intel Corporation (NASDAQ:INTC)

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