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Intel Corporation (NASDAQ:INTC) is Meridian Investment Counsel Inc.’s 6th Largest Position

Intel Corporation logoMeridian Investment Counsel Inc. reduced its position in Intel Corporation (NASDAQ:INTC) by 0.2% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 91,822 shares of the chip maker’s stock after selling 200 shares during the period. Intel Corporation comprises about 2.0% of Meridian Investment Counsel Inc.’s holdings, making the stock its 6th largest position. Meridian Investment Counsel Inc.’s holdings in Intel Corporation were worth $3,312,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Cordasco Financial Network boosted its position in Intel Corporation by 0.7% in the first quarter. Cordasco Financial Network now owns 5,699 shares of the chip maker’s stock valued at $206,000 after buying an additional 38 shares during the last quarter. First Hawaiian Bank boosted its position in Intel Corporation by 0.9% in the first quarter. First Hawaiian Bank now owns 5,769 shares of the chip maker’s stock valued at $208,000 after buying an additional 50 shares during the last quarter. First Command Financial Services Inc. boosted its position in 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 valued at $455,000 after buying an additional 51 shares during the last quarter. Hudock Capital Group LLC boosted its position in Intel Corporation by 0.4% in the first quarter. Hudock Capital Group LLC now owns 12,570 shares of the chip maker’s stock valued at $453,000 after buying an additional 53 shares during the last quarter. Finally, Lederer & Associates Investment Counsel CA boosted its position in 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 valued at $337,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 67.50% of the company’s stock.

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Intel Corporation (INTC) traded down 0.75% during midday trading on Friday, hitting $35.87. The company had a trading volume of 19,272,585 shares. Intel Corporation has a 1-year low of $33.23 and a 1-year high of $38.45. The company has a 50 day moving average price of $34.80 and a 200 day moving average price of $35.73. The firm has a market capitalization of $168.55 billion, a P/E ratio of 13.69 and a beta of 1.01.

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

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a dividend of $0.2725 per share. This represents a $1.09 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Thursday, August 3rd. Intel Corporation’s dividend payout ratio (DPR) is presently 41.76%.

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Several brokerages have issued reports on INTC. BidaskClub raised shares of Intel Corporation from a “hold” rating to a “buy” rating in a report on Thursday. Goldman Sachs Group, Inc. (The) reissued a “hold” rating on shares of Intel Corporation in a report on Wednesday. Vetr lowered shares of Intel Corporation from a “strong-buy” rating to a “buy” rating and set a $40.26 price target on the stock. in a report on Tuesday. B. Riley reiterated a “buy” rating and set a $46.00 price target on shares of Intel Corporation in a research report on Wednesday, August 2nd. Finally, UBS AG restated a “buy” rating and set a $40.00 target price (down from $41.00) on shares of Intel Corporation in a research report on Monday, July 31st. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-seven have issued a buy rating to the company. Intel Corporation has a consensus rating of “Hold” and an average price target of $40.55.

In related news, insider Venkata S. M. Renduchintala sold 1,424 shares of Intel Corporation stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $36.40, for a total value of $51,833.60. Following the sale, the insider now directly owns 1,536 shares in the company, valued at approximately $55,910.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Venkata S. M. Renduchintala sold 13,996 shares of Intel Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $35.47, for a total value of $496,438.12. Following the completion of the sale, the insider now owns 1,536 shares in the company, valued at $54,481.92. The disclosure for this sale can be found here. Insiders have sold a total of 91,921 shares of company stock worth $3,130,162 over the last 90 days. Insiders own 0.09% of the company’s stock.

Intel Corporation Company Profile

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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