Park Place Capital Corp Sells 2,341 Shares of Intel Co. (NASDAQ:INTC)

Park Place Capital Corp lowered its position in Intel Co. (NASDAQ:INTC) by 58.7% in the second quarter, HoldingsChannel.com reports. The fund owned 1,646 shares of the chip maker’s stock after selling 2,341 shares during the quarter. Park Place Capital Corp’s holdings in Intel were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in INTC. Centre Asset Management LLC acquired a new stake in shares of Intel during the 2nd quarter worth about $9,270,000. Red Spruce Capital LLC raised its stake in Intel by 17.4% in the 2nd quarter. Red Spruce Capital LLC now owns 58,682 shares of the chip maker’s stock worth $1,817,000 after purchasing an additional 8,691 shares in the last quarter. Capital Market Strategies LLC acquired a new stake in Intel in the 2nd quarter worth about $472,000. Sensible Money LLC raised its stake in Intel by 11.5% in the 1st quarter. Sensible Money LLC now owns 4,791 shares of the chip maker’s stock worth $212,000 after purchasing an additional 495 shares in the last quarter. Finally, Keynote Financial Services LLC bought a new position in Intel in the 1st quarter valued at about $2,564,000. Institutional investors and hedge funds own 64.53% of the company’s stock.

Intel Price Performance

NASDAQ INTC traded down $7.57 on Friday, reaching $21.48. 300,895,920 shares of the company’s stock traded hands, compared to its average volume of 60,137,096. Intel Co. has a 12 month low of $20.42 and a 12 month high of $51.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.57 and a quick ratio of 1.14. The stock has a 50-day simple moving average of $31.35 and a 200 day simple moving average of $36.71. The stock has a market cap of $91.44 billion, a PE ratio of 22.38, a P/E/G ratio of 17.38 and a beta of 1.05.

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

Intel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, August 7th. Intel’s dividend payout ratio is currently 52.08%.

Wall Street Analyst Weigh In

Several equities analysts have commented on INTC shares. UBS Group decreased their target price on shares of Intel from $37.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday. Wells Fargo & Company decreased their target price on shares of Intel from $43.00 to $38.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Morgan Stanley decreased their target price on shares of Intel from $36.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a report on Friday. Finally, Rosenblatt Securities reissued a “sell” rating and issued a $17.00 target price on shares of Intel in a report on Friday. Five analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Intel has an average rating of “Hold” and a consensus target price of $33.41.

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.