Meeder Asset Management Inc. Boosts Stock Position in Intel Co. (NASDAQ:INTC)

Meeder Asset Management Inc. lifted its position in Intel Co. (NASDAQ:INTC) by 7.7% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217,304 shares of the chip maker’s stock after purchasing an additional 15,605 shares during the quarter. Intel accounts for about 0.7% of Meeder Asset Management Inc.’s holdings, making the stock its 29th largest holding. Meeder Asset Management Inc.’s holdings in Intel were worth $10,404,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of INTC. Fisher Asset Management LLC raised its position in Intel by 3.0% during the 2nd quarter. Fisher Asset Management LLC now owns 26,557,167 shares of the chip maker’s stock valued at $1,271,292,000 after purchasing an additional 785,668 shares during the last quarter. FMR LLC raised its position in Intel by 5.5% during the 1st quarter. FMR LLC now owns 21,740,723 shares of the chip maker’s stock valued at $1,167,477,000 after purchasing an additional 1,133,474 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Intel by 5.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 15,417,125 shares of the chip maker’s stock valued at $723,526,000 after purchasing an additional 824,109 shares during the last quarter. APG Asset Management N.V. raised its position in Intel by 8.0% during the 4th quarter. APG Asset Management N.V. now owns 10,165,374 shares of the chip maker’s stock valued at $417,321,000 after purchasing an additional 755,800 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Intel by 1.7% during the 4th quarter. Nordea Investment Management AB now owns 7,145,109 shares of the chip maker’s stock valued at $335,319,000 after purchasing an additional 122,805 shares during the last quarter. Hedge funds and other institutional investors own 66.17% of the company’s stock.

INTC stock opened at $47.40 on Thursday. Intel Co. has a twelve month low of $42.36 and a twelve month high of $59.59. The company has a quick ratio of 1.04, a current ratio of 1.48 and a debt-to-equity ratio of 0.33. The firm has a market cap of $209.23 billion, a PE ratio of 10.35, a price-to-earnings-growth ratio of 1.44 and a beta of 0.88. The business has a 50 day moving average of $48.74 and a 200 day moving average of $50.12.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, July 25th. The chip maker reported $1.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.17. Intel had a return on equity of 28.84% and a net margin of 28.05%. The company had revenue of $16.51 billion during the quarter, compared to analyst estimates of $15.70 billion. During the same quarter last year, the company earned $1.04 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, research analysts expect that Intel Co. will post 4.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be given a dividend of $0.315 per share. This represents a $1.26 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, August 6th. Intel’s dividend payout ratio (DPR) is presently 27.51%.

In other Intel news, Director Frank D. Yeary sold 2,509 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $50.92, for a total transaction of $127,758.28. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Navin Shenoy sold 8,552 shares of the stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $46.78, for a total value of $400,062.56. Following the sale, the executive vice president now owns 68,833 shares in the company, valued at $3,220,007.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,524 shares of company stock worth $1,844,221. Company insiders own 0.02% of the company’s stock.

A number of research analysts have commented on the company. Credit Suisse Group set a $58.00 price target on Intel and gave the company a “buy” rating in a research report on Thursday, May 9th. Northland Securities raised Intel from an “under perform” rating to a “market perform” rating and set a $48.00 price target for the company in a research report on Friday, August 16th. BMO Capital Markets lowered Intel from an “outperform” rating to a “market perform” rating and set a $47.99 price target for the company. in a research report on Thursday, May 9th. Deutsche Bank reaffirmed a “buy” rating and set a $62.00 price target (up previously from $60.00) on shares of Intel in a research report on Friday, July 26th. Finally, Macquarie set a $60.00 price target on Intel and gave the company a “buy” rating in a research report on Friday, April 26th. Nine investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nineteen have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $54.19.

About Intel

Intel Corporation offers computing, networking, data storage, and communication solutions worldwide. It operates through Client Computing Group, Data Center Group, Internet of Things Group, Non-Volatile Memory Solutions Group, Programmable Solutions Group, and All Other segments. The company offers microprocessors, and system-on-chip and multichip packaging products.

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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