Meridian Wealth Management LLC Reduces Holdings in Intel Co. (NASDAQ:INTC)

Meridian Wealth Management LLC cut its stake in shares of Intel Co. (NASDAQ:INTC) by 23.0% in the 4th quarter, HoldingsChannel reports. The fund owned 11,698 shares of the chip maker’s stock after selling 3,489 shares during the quarter. Meridian Wealth Management LLC’s holdings in Intel were worth $240,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Mission Wealth Management LP boosted its holdings in Intel by 0.4% during the 4th quarter. Mission Wealth Management LP now owns 174,574 shares of the chip maker’s stock valued at $3,500,000 after acquiring an additional 652 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Intel during the 4th quarter valued at about $390,000. Gruss & Co. LLC purchased a new stake in Intel during the 4th quarter valued at about $602,000. Plato Investment Management Ltd boosted its holdings in Intel by 4.3% during the 4th quarter. Plato Investment Management Ltd now owns 56,140 shares of the chip maker’s stock valued at $1,130,000 after acquiring an additional 2,337 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new stake in Intel during the 4th quarter valued at about $8,681,000. 64.53% of the stock is currently owned by hedge funds and other institutional investors.

Intel Stock Down 2.4 %

Shares of NASDAQ:INTC opened at $20.81 on Thursday. The stock has a fifty day simple moving average of $21.28 and a two-hundred day simple moving average of $21.82. The stock has a market capitalization of $90.11 billion, a price-to-earnings ratio of -4.75 and a beta of 1.02. Intel Co. has a 12-month low of $18.51 and a 12-month high of $46.63. The company has a current ratio of 1.33, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC) last announced its quarterly earnings data on Thursday, January 30th. The chip maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.14). Intel had a negative net margin of 35.32% and a negative return on equity of 3.27%. On average, research analysts anticipate that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INTC has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. dropped their price objective on Intel from $26.00 to $23.00 and set an “underweight” rating for the company in a report on Friday, January 31st. Mizuho dropped their price objective on Intel from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, January 10th. Barclays dropped their price objective on Intel from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. Finally, Roth Mkm dropped their price objective on Intel from $25.00 to $20.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Five analysts have rated the stock with a sell rating, twenty-seven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Intel has an average rating of “Hold” and an average target price of $26.88.

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.