MeadowBrook Investment Advisors LLC Invests $466,000 in Intel Co. (NASDAQ:INTC)

MeadowBrook Investment Advisors LLC bought a new stake in shares of Intel Co. (NASDAQ:INTC) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 9,280 shares of the chip maker’s stock, valued at approximately $466,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Intel by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 381,109,738 shares of the chip maker’s stock worth $13,548,451,000 after acquiring an additional 1,624,453 shares during the period. Primecap Management Co. CA increased its stake in shares of Intel by 6.0% in the third quarter. Primecap Management Co. CA now owns 74,762,291 shares of the chip maker’s stock valued at $2,657,799,000 after buying an additional 4,226,790 shares in the last quarter. Northern Trust Corp increased its position in Intel by 3.7% in the 3rd quarter. Northern Trust Corp now owns 46,003,776 shares of the chip maker’s stock valued at $1,635,434,000 after acquiring an additional 1,626,127 shares in the last quarter. Invesco Ltd. lifted its position in shares of Intel by 13.4% during the third quarter. Invesco Ltd. now owns 35,788,068 shares of the chip maker’s stock worth $1,272,266,000 after purchasing an additional 4,222,381 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Intel by 17.8% in the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock valued at $1,228,752,000 after purchasing an additional 5,217,549 shares in the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Intel

In other Intel news, CEO Patrick P. Gelsinger purchased 4,000 shares of the stock in a transaction dated Monday, April 29th. The shares were purchased at an average cost of $31.42 per share, with a total value of $125,680.00. Following the completion of the acquisition, the chief executive officer now directly owns 35,275 shares in the company, valued at approximately $1,108,340.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Patrick P. Gelsinger acquired 4,100 shares of the company’s stock in a transaction on Wednesday, May 1st. The stock was acquired at an average price of $30.29 per share, with a total value of $124,189.00. Following the acquisition, the chief executive officer now directly owns 39,375 shares of the company’s stock, valued at $1,192,668.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patrick P. Gelsinger purchased 4,000 shares of Intel stock in a transaction that occurred on Monday, April 29th. The stock was acquired at an average price of $31.42 per share, for a total transaction of $125,680.00. Following the transaction, the chief executive officer now directly owns 35,275 shares of the company’s stock, valued at approximately $1,108,340.50. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Intel from $37.00 to $35.00 and set an “underweight” rating for the company in a research note on Friday, April 26th. Morgan Stanley decreased their target price on shares of Intel from $48.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Friday, April 26th. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 price objective on shares of Intel in a research note on Wednesday, April 3rd. Roth Mkm decreased their target price on shares of Intel from $45.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, April 26th. Finally, The Goldman Sachs Group dropped their price objective on Intel from $39.00 to $34.00 and set a “sell” rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Intel currently has an average rating of “Hold” and an average price target of $39.75.

Intel Price Performance

NASDAQ:INTC traded up $0.24 during midday trading on Tuesday, hitting $31.21. The company had a trading volume of 15,971,203 shares, compared to its average volume of 48,072,348. The stock’s fifty day moving average price is $39.36 and its 200-day moving average price is $42.08. Intel Co. has a 52-week low of $26.85 and a 52-week high of $51.28. The company has a market capitalization of $132.86 billion, a PE ratio of 32.50, a P/E/G ratio of 10.05 and a beta of 1.09. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43.

Intel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is currently 52.08%.

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.