Mercer Global Advisors Inc. ADV Sells 72,331 Shares of Intel Co. (NASDAQ:INTC)

Mercer Global Advisors Inc. ADV decreased its holdings in shares of Intel Co. (NASDAQ:INTC) by 2.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,246,262 shares of the chip maker’s stock after selling 72,331 shares during the quarter. Mercer Global Advisors Inc. ADV owned 0.08% of Intel worth $99,479,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. SYSTM Wealth Solutions LLC grew its stake in shares of Intel by 13.0% during the second quarter. SYSTM Wealth Solutions LLC now owns 13,029 shares of the chip maker’s stock valued at $404,000 after buying an additional 1,504 shares during the last quarter. Cranbrook Wealth Management LLC grew its stake in shares of Intel by 184.0% during the second quarter. Cranbrook Wealth Management LLC now owns 9,152 shares of the chip maker’s stock valued at $283,000 after buying an additional 5,930 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Intel by 17.3% during the second quarter. Axxcess Wealth Management LLC now owns 166,626 shares of the chip maker’s stock valued at $5,160,000 after buying an additional 24,596 shares during the last quarter. Frisch Financial Group Inc. grew its stake in Intel by 138.0% in the second quarter. Frisch Financial Group Inc. now owns 30,834 shares of the chip maker’s stock worth $955,000 after purchasing an additional 17,878 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Intel in the second quarter worth approximately $5,206,000. Institutional investors own 64.53% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Patrick P. Gelsinger acquired 12,500 shares of the business’s stock in a transaction on Monday, August 5th. The stock was bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the purchase, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.04% of the stock is owned by company insiders.

Intel Stock Performance

NASDAQ INTC opened at $21.47 on Wednesday. The stock has a 50-day simple moving average of $24.45 and a two-hundred day simple moving average of $31.29. The firm has a market capitalization of $91.40 billion, a P/E ratio of 22.36 and a beta of 1.03. Intel Co. has a fifty-two week low of $18.51 and a fifty-two week high of $51.28. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59.

Intel (NASDAQ:INTC) last released its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). The company had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.92 billion. Intel had a net margin of 1.77% and a return on equity of 1.78%. The business’s quarterly revenue was down .8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. On average, equities analysts forecast that Intel Co. will post -0.47 earnings per share for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a $0.125 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $0.50 annualized dividend and a dividend yield of 2.33%. Intel’s dividend payout ratio is presently 52.08%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INTC. Deutsche Bank Aktiengesellschaft dropped their price objective on Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, August 2nd. Cantor Fitzgerald dropped their price objective on Intel from $40.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Barclays dropped their price objective on Intel from $40.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on Intel from $35.00 to $26.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley dropped their price objective on Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $32.04.

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.