Meridian Wealth Management LLC Cuts Stock Position in Intel Co. (NASDAQ:INTC)

Meridian Wealth Management LLC lowered its holdings in Intel Co. (NASDAQ:INTC) by 23.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,698 shares of the chip maker’s stock after selling 3,489 shares during the period. Meridian Wealth Management LLC’s holdings in Intel were worth $240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Mission Wealth Management LP boosted its position in Intel by 0.4% in the fourth quarter. Mission Wealth Management LP now owns 174,574 shares of the chip maker’s stock worth $3,500,000 after purchasing an additional 652 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in Intel in the fourth quarter worth $390,000. Gruss & Co. LLC purchased a new position in Intel in the fourth quarter worth $602,000. Plato Investment Management Ltd boosted its position in Intel by 4.3% in the fourth quarter. Plato Investment Management Ltd now owns 56,140 shares of the chip maker’s stock worth $1,130,000 after purchasing an additional 2,337 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Intel in the fourth quarter valued at $8,681,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Price Performance

INTC opened at $20.81 on Thursday. The stock has a 50-day moving average price of $21.28 and a 200-day moving average price of $21.82. 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. The stock has a market capitalization of $90.11 billion, a P/E ratio of -4.75 and a beta of 1.02.

Intel (NASDAQ:INTC) last posted 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 return on equity of 3.27% and a negative net margin of 35.32%. Equities analysts predict that Intel Co. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have issued reports on INTC. Rosenblatt Securities restated a “sell” rating and issued a $20.00 target price on shares of Intel in a research note on Thursday, January 30th. Mizuho lowered their target price on Intel from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, January 10th. Cantor Fitzgerald boosted their target price on Intel from $22.00 to $29.00 and gave the company a “neutral” rating in a research note on Tuesday, February 18th. Benchmark restated a “hold” rating on shares of Intel in a research note on Friday, January 31st. Finally, Wells Fargo & Company lowered their target price on Intel from $28.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, January 31st. Five research analysts have rated the stock with a sell rating, twenty-seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Intel currently has a consensus rating of “Hold” and a consensus target price of $26.88.

Intel Company Profile

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.