MRP Capital Investments LLC Trims Stock Position in Intel Co. (NASDAQ:INTC)

MRP Capital Investments LLC trimmed its stake in Intel Co. (NASDAQ:INTC) by 73.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,725 shares of the chip maker’s stock after selling 23,595 shares during the period. MRP Capital Investments LLC’s holdings in Intel were worth $270,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Orion Portfolio Solutions LLC boosted its position in Intel by 3.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 98,320 shares of the chip maker’s stock valued at $4,764,000 after acquiring an additional 2,915 shares in the last quarter. Brookstone Capital Management boosted its position in shares of Intel by 65.2% during the first quarter. Brookstone Capital Management now owns 69,096 shares of the chip maker’s stock valued at $3,052,000 after purchasing an additional 27,274 shares in the last quarter. Trexquant Investment LP grew its stake in Intel by 69.0% in the fourth quarter. Trexquant Investment LP now owns 71,126 shares of the chip maker’s stock worth $3,574,000 after purchasing an additional 29,040 shares during the period. NBC Securities Inc. lifted its position in Intel by 2.6% during the first quarter. NBC Securities Inc. now owns 16,681 shares of the chip maker’s stock valued at $736,000 after buying an additional 418 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Intel during the fourth quarter valued at $501,000. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Intel Stock Down 3.3 %

Intel stock opened at $20.77 on Thursday. The stock has a market cap of $88.42 billion, a PE ratio of 21.64 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.24 and a current ratio of 1.59. The stock has a fifty day moving average of $24.17 and a 200 day moving average of $31.22. Intel Co. has a one year low of $18.51 and a one 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). The business 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%. Intel’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) EPS. As a group, sell-side analysts predict that Intel Co. will post -0.47 EPS for the current year.

Intel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Wednesday, August 7th. Intel’s dividend payout ratio is presently 52.08%.

Insider Activity

In related news, CEO Patrick P. Gelsinger bought 12,500 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were bought at an average cost of $20.16 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief executive officer now owns 37,975 shares of the company’s stock, valued at $765,576. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.04% of the company’s stock.

Analyst Ratings Changes

INTC has been the subject of several research reports. Barclays decreased their price target on shares of Intel from $40.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of Intel from $29.00 to $22.00 and set a “sell” rating for the company in a report on Friday, August 2nd. Rosenblatt Securities restated a “sell” rating and issued a $17.00 price target on shares of Intel in a research note on Friday, August 2nd. Argus cut Intel from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Finally, Northland Securities dropped their target price on Intel from $68.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $32.04.

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.