The Intel Corp. (INTC) Shares Bought by First Merchants Corp

The Intel Corp. (INTC) Shares Bought by First Merchants Corp

First Merchants Corp increased its position in Intel Corp. (NASDAQ:INTC) by 5.3% during the third quarter, Holdings Channel reports. The institutional investor owned 25,710 shares of the chip maker’s stock after buying an additional 1,294 shares during the period. First Merchants Corp’s holdings in Intel Corp. were worth $970,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Day & Ennis LLC increased its position in Intel Corp. by 0.4% in the second quarter. Day & Ennis LLC now owns 7,459 shares of the chip maker’s stock worth $245,000 after buying an additional 27 shares during the last quarter. D. Scott Neal Inc. increased its position in Intel Corp. by 0.7% in the second quarter. D. Scott Neal Inc. now owns 4,969 shares of the chip maker’s stock worth $163,000 after buying an additional 35 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its position in Intel Corp. by 0.8% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 4,496 shares of the chip maker’s stock worth $147,000 after buying an additional 37 shares during the last quarter. Norris Perne & French LLP MI increased its position in Intel Corp. by 0.7% in the third quarter. Norris Perne & French LLP MI now owns 7,106 shares of the chip maker’s stock worth $268,000 after buying an additional 46 shares during the last quarter. Finally, Beaumont Financial Partners LLC increased its position in Intel Corp. by 0.6% in the second quarter. Beaumont Financial Partners LLC now owns 8,070 shares of the chip maker’s stock worth $265,000 after buying an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 64.83% of the company’s stock.

Shares of Intel Corp. (NASDAQ:INTC) traded up 1.01% during trading on Friday, hitting $36.94. The stock had a trading volume of 23,950,936 shares. The stock has a 50-day moving average of $36.37 and a 200 day moving average of $35.72. The firm has a market cap of $175.06 billion, a price-to-earnings ratio of 17.33 and a beta of 1.06. Intel Corp. has a 12-month low of $27.68 and a 12-month high of $38.36.

INTC has been the topic of a number of research reports. Vetr downgraded shares of Intel Corp. from a “strong-buy” rating to a “buy” rating and set a $41.20 price objective on the stock. in a report on Wednesday, October 12th. Zacks Investment Research raised shares of Intel Corp. from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a report on Monday, September 26th. Pacific Crest reaffirmed a “buy” rating and set a $44.00 price target on shares of Intel Corp. in a report on Thursday, October 6th. BlueFin Research reaffirmed a “buy” rating on shares of Intel Corp. in a report on Monday, October 3rd. Finally, B. Riley reaffirmed a “buy” rating and set a $46.00 price target (up previously from $45.00) on shares of Intel Corp. in a report on Wednesday, October 19th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating, thirty-two have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.87.

In related news, EVP Diane M. Bryant sold 11,607 shares of the stock in a transaction dated Wednesday, December 7th. The stock was sold at an average price of $34.74, for a total transaction of $403,227.18. Following the transaction, the executive vice president now directly owns 112,006 shares in the company, valued at $3,891,088.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian M. Krzanich sold 79,051 shares of the stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $36.49, for a total value of $2,884,570.99. Following the transaction, the chief executive officer now owns 394,406 shares in the company, valued at $14,391,874.94. The disclosure for this sale can be found here. Insiders have sold 104,655 shares of company stock worth $3,776,573 over the last quarter. 0.09% of the stock is currently owned by company insiders.

Intel Corp. Company Profile

Intel Corporation is engaged in the design and manufacture of digital technology platforms. The Company’s segments include Client Computing Group (CCG), Data Center Group (DCG), Internet of Things Group (IOTG), Software and Services (SSG) and All Other. CCG segment includes platforms designed for notebooks (including Ultrabook devices), 2 in 1 systems, desktops (including all-in-ones and personal computers (PCs)), tablets, phones, wireless and wired connectivity products, and mobile communication components.

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