MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Trims Holdings in Intel Co. (NASDAQ:INTC)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its holdings in Intel Co. (NASDAQ:INTC) by 18.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,818 shares of the chip maker’s stock after selling 15,657 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Intel were worth $2,193,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. GUNN & Co INVESTMENT MANAGEMENT INC. bought a new position in Intel during the 4th quarter valued at about $297,000. DDFG Inc bought a new position in Intel during the 4th quarter valued at about $205,000. Benjamin Edwards Inc. lifted its stake in Intel by 5.3% during the 4th quarter. Benjamin Edwards Inc. now owns 4,974 shares of the chip maker’s stock valued at $250,000 after acquiring an additional 249 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in Intel by 29.7% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 36,993 shares of the chip maker’s stock valued at $1,859,000 after acquiring an additional 8,470 shares during the period. Finally, Signature Resources Capital Management LLC bought a new position in Intel during the 4th quarter valued at about $37,000. 64.53% of the stock is owned by hedge funds and other institutional investors.

Intel Stock Up 9.5 %

Shares of INTC traded up $1.91 during mid-day trading on Friday, hitting $22.04. 177,785,378 shares of the company traded hands, compared to its average volume of 86,373,080. Intel Co. has a 1-year low of $18.84 and a 1-year high of $51.28. The company has a quick ratio of 1.24, a current ratio of 1.59 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $94.24 billion, a PE ratio of 22.96 and a beta of 1.05. The business has a 50 day moving average of $27.24 and a 200 day moving average of $33.34.

Intel (NASDAQ:INTC) last posted its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.08). Intel had a net margin of 1.77% and a return on equity of 1.78%. The company had revenue of $12.80 billion for the quarter, compared to analyst estimates of $12.92 billion. During the same quarter last year, the company earned ($0.05) EPS. The business’s revenue was down .8% compared to the same quarter last year. Equities research analysts anticipate that Intel Co. will post -0.46 EPS for the current year.

Intel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.125 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.27%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average price of $20.16 per share, for a total transaction of $252,000.00. Following the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.04% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

INTC has been the topic of several research analyst reports. HSBC cut shares of Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research note on Friday, August 2nd. The Goldman Sachs Group lowered their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating on the stock in a research note on Friday, August 2nd. Argus cut shares of Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Truist Financial lowered their price objective on shares of Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $32.04.

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.