Merit Financial Group LLC Sells 4,587 Shares of Intel Co. (NASDAQ:INTC)

Merit Financial Group LLC lessened its holdings in shares of Intel Co. (NASDAQ:INTCFree Report) by 11.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,119 shares of the chip maker’s stock after selling 4,587 shares during the period. Merit Financial Group LLC’s holdings in Intel were worth $1,284,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of INTC. Moneta Group Investment Advisors LLC boosted its position in Intel by 100,953.1% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 51,133,863 shares of the chip maker’s stock valued at $1,351,468,000 after acquiring an additional 51,083,262 shares in the last quarter. Norges Bank bought a new stake in Intel during the 4th quarter valued at approximately $1,092,939,000. Capital Research Global Investors boosted its position in Intel by 38.6% during the 2nd quarter. Capital Research Global Investors now owns 74,806,869 shares of the chip maker’s stock valued at $2,501,537,000 after acquiring an additional 20,836,219 shares in the last quarter. Parnassus Investments LLC bought a new stake in shares of Intel in the 2nd quarter worth approximately $626,573,000. Finally, Clearbridge Investments LLC boosted its position in shares of Intel by 4,407.3% in the 1st quarter. Clearbridge Investments LLC now owns 16,439,207 shares of the chip maker’s stock worth $814,727,000 after purchasing an additional 16,074,485 shares in the last quarter. Hedge funds and other institutional investors own 60.84% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on INTC shares. Barclays boosted their price target on Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Wedbush dropped their price target on Intel from $45.00 to $40.00 and set a “neutral” rating on the stock in a research report on Friday, January 26th. Morgan Stanley boosted their price target on Intel from $39.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Monday, January 29th. Wells Fargo & Company dropped their price target on Intel from $52.00 to $48.00 and set an “equal weight” rating on the stock in a research report on Friday, January 26th. Finally, HSBC dropped their price target on Intel from $46.00 to $44.00 and set a “hold” rating on the stock in a research report on Friday, January 26th. Four equities research analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $41.48.

View Our Latest Research Report on INTC

Intel Trading Down 1.8 %

NASDAQ:INTC opened at $42.60 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.54 and a quick ratio of 1.15. The firm has a market capitalization of $180.11 billion, a price-to-earnings ratio of 109.23, a price-to-earnings-growth ratio of 2.88 and a beta of 1.02. Intel Co. has a one year low of $24.73 and a one year high of $51.28. The business has a fifty day moving average price of $46.15 and a 200-day moving average price of $39.71.

Intel (NASDAQ:INTCGet Free Report) last posted its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.27 by $0.27. The firm had revenue of $15.40 billion during the quarter, compared to analyst estimates of $15.16 billion. Intel had a return on equity of 1.64% and a net margin of 3.11%. Intel’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.10 EPS. Sell-side analysts forecast that Intel Co. will post 0.72 EPS for the current year.

Intel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th will be paid a $0.125 dividend. The ex-dividend date is Tuesday, February 6th. This represents a $0.50 annualized dividend and a dividend yield of 1.17%. Intel’s dividend payout ratio (DPR) is 128.21%.

Insider Transactions at Intel

In other news, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was bought at an average price of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now owns 28,475 shares of the company’s stock, valued at approximately $1,234,676. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was bought at an average price of $42.74 per share, with a total value of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick P. Gelsinger bought 3,000 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was purchased at an average cost of $43.36 per share, with a total value of $130,080.00. Following the acquisition, the chief executive officer now directly owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. 0.04% of the stock is currently owned by company insiders.

Intel Profile

(Free Report)

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, Accelerated Computing Systems and Graphics, Intel Foundry Services, and Other segments. The company offers platform products, such as central processing units and chipsets, and system-on-chip and multichip packages; and accelerators, boards and systems, connectivity products, and memory and storage products.

See Also

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Institutional Ownership by Quarter for Intel (NASDAQ:INTC)

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