Intel Co. (NASDAQ:INTC) Stock Position Decreased by First Merchants Corp

First Merchants Corp trimmed its position in shares of Intel Co. (NASDAQ:INTC) by 27.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,541 shares of the chip maker’s stock after selling 12,688 shares during the quarter. First Merchants Corp’s holdings in Intel were worth $1,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Johnson Financial Group Inc. raised its stake in Intel by 4.5% in the 4th quarter. Johnson Financial Group Inc. now owns 5,730 shares of the chip maker’s stock valued at $288,000 after acquiring an additional 247 shares during the period. Benjamin Edwards Inc. increased its holdings in shares of Intel by 5.3% in the fourth quarter. Benjamin Edwards Inc. now owns 4,974 shares of the chip maker’s stock valued at $250,000 after purchasing an additional 249 shares during the last quarter. Enterprise Financial Services Corp raised its position in shares of Intel by 2.2% in the fourth quarter. Enterprise Financial Services Corp now owns 11,461 shares of the chip maker’s stock valued at $576,000 after purchasing an additional 251 shares during the period. Summit Financial Strategies Inc. lifted its stake in shares of Intel by 3.7% during the 4th quarter. Summit Financial Strategies Inc. now owns 7,385 shares of the chip maker’s stock worth $371,000 after buying an additional 265 shares during the last quarter. Finally, Cape Investment Advisory Inc. boosted its holdings in shares of Intel by 5.5% during the 4th quarter. Cape Investment Advisory Inc. now owns 5,185 shares of the chip maker’s stock worth $261,000 after buying an additional 270 shares during the period. Institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was acquired at an average cost of $20.16 per share, with a total value of $252,000.00. Following the transaction, the chief executive officer now directly owns 37,975 shares in the company, valued at $765,576. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.04% of the stock is currently owned by insiders.

Intel Trading Up 2.2 %

Shares of INTC stock opened at $20.54 on Friday. Intel Co. has a twelve month low of $18.84 and a twelve month high of $51.28. The stock’s fifty day simple moving average is $28.28 and its 200 day simple moving average is $34.14. The company has a quick ratio of 1.14, a current ratio of 1.57 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $87.44 billion, a P/E ratio of 21.40, a P/E/G ratio of 17.38 and a beta of 1.05.

Intel (NASDAQ:INTC) last released its quarterly earnings results on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.08). The firm had revenue of $12.80 billion for the quarter, compared to the consensus estimate of $12.92 billion. Intel had a return on equity of 1.82% and a net margin of 1.77%. The business’s revenue for the quarter was down .8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. As a group, sell-side analysts predict that Intel Co. will post 0.07 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be issued a dividend of $0.125 per share. The ex-dividend date is Wednesday, August 7th. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.43%. Intel’s dividend payout ratio (DPR) is presently 52.08%.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. The Goldman Sachs Group cut their price objective on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a research report on Friday, August 2nd. Rosenblatt Securities reissued a “sell” rating and set a $17.00 price target on shares of Intel in a report on Friday, August 2nd. HSBC downgraded Intel from a “hold” rating to a “reduce” rating in a research note on Friday, August 2nd. Barclays lowered their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, August 2nd. Finally, Wedbush reduced their target price on shares of Intel from $32.50 to $25.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Six equities research analysts have rated the stock with a sell rating, twenty-three have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Intel currently has a consensus rating of “Hold” and an average target price of $32.04.

Intel 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.