Intel Co. (NASDAQ:INTC) Shares Purchased by Meritage Portfolio Management

Meritage Portfolio Management boosted its holdings in Intel Co. (NASDAQ:INTC) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 40,845 shares of the chip maker’s stock after buying an additional 1,049 shares during the quarter. Meritage Portfolio Management’s holdings in Intel were worth $2,052,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in INTC. California Public Employees Retirement System boosted its holdings in shares of Intel by 102.6% in the fourth quarter. California Public Employees Retirement System now owns 16,074,760 shares of the chip maker’s stock valued at $807,757,000 after acquiring an additional 8,140,835 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Intel by 18.6% during the third quarter. Bank of New York Mellon Corp now owns 38,720,686 shares of the chip maker’s stock worth $1,376,520,000 after purchasing an additional 6,064,950 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Intel by 17.8% during the third quarter. Wellington Management Group LLP now owns 34,564,037 shares of the chip maker’s stock worth $1,228,752,000 after purchasing an additional 5,217,549 shares during the period. Alecta Tjanstepension Omsesidigt acquired a new stake in shares of Intel during the fourth quarter worth $251,250,000. Finally, Parnassus Investments LLC lifted its holdings in shares of Intel by 24.7% during the third quarter. Parnassus Investments LLC now owns 23,369,134 shares of the chip maker’s stock worth $830,773,000 after purchasing an additional 4,631,905 shares during the period. 64.53% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INTC. Truist Financial reaffirmed a “hold” rating and set a $45.00 price target on shares of Intel in a report on Wednesday, April 3rd. Bank of America cut their price objective on Intel from $50.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, April 12th. Susquehanna cut their price objective on Intel from $42.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Rosenblatt Securities reiterated a “sell” rating and issued a $17.00 price objective on shares of Intel in a research report on Friday, February 23rd. Finally, Barclays increased their price objective on Intel from $32.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 16th. Four research analysts have rated the stock with a sell rating, twenty have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $42.38.

Intel Trading Up 1.8 %

NASDAQ:INTC traded up $0.61 during mid-day trading on Thursday, reaching $35.11. The company’s stock had a trading volume of 61,054,465 shares, compared to its average volume of 47,184,160. The stock has a market cap of $148.45 billion, a P/E ratio of 89.03, a P/E/G ratio of 3.08 and a beta of 1.00. Intel Co. has a twelve month low of $26.85 and a twelve month high of $51.28. 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 company’s fifty day simple moving average is $41.29 and its two-hundred day simple moving average is $42.30.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, January 25th. The chip maker reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.27. The business had revenue of $15.40 billion for 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%. The company’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.10 EPS. On average, equities analysts predict that Intel Co. will post 0.61 EPS for the current year.

Insider Activity

In other news, CEO Patrick P. Gelsinger acquired 2,800 shares of Intel stock in a transaction dated Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, with a total value of $119,672.00. Following the purchase, the chief executive officer now directly owns 31,275 shares of the company’s stock, valued at approximately $1,336,693.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CEO Patrick P. Gelsinger bought 2,800 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were acquired at an average cost of $42.74 per share, for a total transaction of $119,672.00. Following the acquisition, the chief executive officer now owns 31,275 shares in the company, valued at approximately $1,336,693.50. The purchase was disclosed in a legal filing with the SEC, which is accessible 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 shares were bought at an average price of $43.36 per share, for a total transaction of $130,080.00. Following the completion of the acquisition, the chief executive officer now owns 28,475 shares in the company, valued at approximately $1,234,676. The disclosure for this purchase can be found here. Corporate insiders own 0.04% of the company’s stock.

About Intel

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.