Meyer Handelman Co. Has $4.03 Million Stock Holdings in Intel Co. (NASDAQ:INTC)

Meyer Handelman Co. reduced its holdings in Intel Co. (NASDAQ:INTC - Free Report) by 42.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,780 shares of the chip maker's stock after selling 145,995 shares during the period. Meyer Handelman Co.'s holdings in Intel were worth $4,026,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. William B. Walkup & Associates Inc. acquired a new position in Intel during the second quarter valued at approximately $2,178,000. Geode Capital Management LLC grew its holdings in shares of Intel by 4.6% in the 3rd quarter. Geode Capital Management LLC now owns 92,510,098 shares of the chip maker's stock valued at $2,162,891,000 after buying an additional 4,103,553 shares during the period. Principal Financial Group Inc. increased its position in shares of Intel by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 4,827,123 shares of the chip maker's stock valued at $113,244,000 after buying an additional 204,200 shares in the last quarter. Swiss National Bank raised its stake in Intel by 0.3% during the 3rd quarter. Swiss National Bank now owns 12,635,400 shares of the chip maker's stock worth $296,426,000 after buying an additional 31,800 shares during the period. Finally, InvesTrust bought a new position in Intel during the fourth quarter worth about $3,696,000. 64.53% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Michelle Johnston Holthaus sold 25,000 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $26.00, for a total transaction of $650,000.00. Following the completion of the sale, the executive vice president now directly owns 273,258 shares in the company, valued at approximately $7,104,708. This represents a 8.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.04% of the company's stock.

Intel Stock Performance

INTC stock traded up $0.51 during mid-day trading on Wednesday, hitting $19.71. 44,722,570 shares of the company were exchanged, compared to its average volume of 54,885,996. Intel Co. has a 1-year low of $18.51 and a 1-year high of $50.30. The stock has a market capitalization of $85.01 billion, a PE ratio of -5.30 and a beta of 1.07. The business has a 50 day simple moving average of $21.89 and a 200-day simple moving average of $23.49. The company has a current ratio of 1.31, a quick ratio of 0.97 and a debt-to-equity ratio of 0.44.

Intel (NASDAQ:INTC - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The chip maker reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.44). Intel had a negative net margin of 29.42% and a negative return on equity of 1.71%. The firm had revenue of $13.30 billion during the quarter, compared to the consensus estimate of $13.02 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The business's revenue for the quarter was down 6.3% compared to the same quarter last year. On average, equities analysts forecast that Intel Co. will post -0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

INTC has been the topic of several recent analyst reports. Northland Securities cut their price objective on Intel from $42.00 to $28.00 and set an "outperform" rating on the stock in a report on Friday, November 1st. Benchmark reissued a "hold" rating on shares of Intel in a research report on Friday, November 1st. Robert W. Baird upped their target price on shares of Intel from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Needham & Company LLC restated a "hold" rating on shares of Intel in a report on Friday, November 1st. Finally, Bank of America reissued an "underperform" rating and issued a $21.00 target price on shares of Intel in a research report on Tuesday, December 3rd. Six research analysts have rated the stock with a sell rating, twenty-five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.96.

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.