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

Park Place Capital Corp lessened its stake in Intel Co. (NASDAQ:INTC) by 58.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,646 shares of the chip maker’s stock after selling 2,341 shares during the period. Park Place Capital Corp’s holdings in Intel were worth $51,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on INTC shares. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Intel from $38.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday. Roth Mkm lowered their target price on shares of Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday. Mizuho decreased their price target on shares of Intel from $55.00 to $45.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. StockNews.com upgraded shares of Intel from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, Citigroup decreased their price target on shares of Intel from $47.50 to $40.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Five analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Intel currently has a consensus rating of “Hold” and a consensus price target of $33.41.

Intel Stock Performance

INTC stock traded down $7.57 during midday trading on Friday, hitting $21.48. 300,895,920 shares of the stock traded hands, compared to its average volume of 60,137,096. The firm has a market cap of $91.44 billion, a P/E ratio of 22.38, a PEG ratio of 17.38 and a beta of 1.05. 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’s fifty day simple moving average is $31.35 and its 200-day simple moving average is $36.71. Intel Co. has a 1-year low of $20.42 and a 1-year high of $51.28.

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

Intel Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

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.