Merit Financial Group LLC Decreases Stock Holdings in Intel Co. (NASDAQ:INTC)

Merit Financial Group LLC trimmed its stake in shares of Intel Co. (NASDAQ:INTC) by 18.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,429 shares of the chip maker’s stock after selling 6,690 shares during the period. Merit Financial Group LLC’s holdings in Intel were worth $1,479,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in INTC. Brown Advisory Inc. increased its holdings in Intel by 1.6% during the third quarter. Brown Advisory Inc. now owns 518,272 shares of the chip maker’s stock valued at $18,425,000 after buying an additional 8,108 shares during the last quarter. Signet Financial Management LLC purchased a new stake in Intel during the third quarter valued at approximately $206,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH increased its holdings in Intel by 29.0% during the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 4,382 shares of the chip maker’s stock valued at $156,000 after buying an additional 984 shares during the last quarter. Concord Wealth Partners increased its stake in shares of Intel by 146.2% in the third quarter. Concord Wealth Partners now owns 19,049 shares of the chip maker’s stock worth $677,000 after purchasing an additional 11,313 shares in the last quarter. Finally, Everhart Financial Group Inc. increased its stake in shares of Intel by 10.2% in the third quarter. Everhart Financial Group Inc. now owns 17,802 shares of the chip maker’s stock worth $633,000 after purchasing an additional 1,643 shares in the last quarter. 64.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Evercore ISI reduced their price objective on shares of Intel from $40.00 to $36.00 and set an “in-line” rating for the company in a research note on Friday, April 26th. Truist Financial reduced their price objective on shares of Intel from $45.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, April 26th. Benchmark restated a “buy” rating and set a $62.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Cantor Fitzgerald restated a “neutral” rating and set a $50.00 target price on shares of Intel in a research report on Wednesday, April 3rd. Finally, Mizuho dropped their target price on shares of Intel from $55.00 to $45.00 and set a “buy” 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 given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $39.75.

Intel Trading Up 1.3 %

INTC stock opened at $30.90 on Friday. The company has a market capitalization of $131.54 billion, a PE ratio of 32.19, a P/E/G ratio of 10.05 and a beta of 1.09. Intel Co. has a 12 month low of $26.85 and a 12 month high of $51.28. The firm’s 50-day moving average is $39.60 and its 200 day moving average is $42.02. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14.

Intel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.125 dividend. This represents a $0.50 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend is Monday, May 6th. Intel’s dividend payout ratio is presently 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.