Diversify Advisory Services LLC Sells 6,088 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Diversify Advisory Services LLC trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 61.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,822 shares of the manufacturing equipment provider's stock after selling 6,088 shares during the period. Diversify Advisory Services LLC's holdings in Applied Materials were worth $572,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Belpointe Asset Management LLC boosted its position in Applied Materials by 1.7% during the 4th quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider's stock worth $607,000 after purchasing an additional 62 shares during the period. Silver Oak Securities Incorporated boosted its position in Applied Materials by 4.7% in the 1st quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider's stock valued at $218,000 after buying an additional 68 shares during the last quarter. Cromwell Holdings LLC boosted its position in Applied Materials by 2.8% in the 1st quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock valued at $369,000 after buying an additional 69 shares during the last quarter. Hardy Reed LLC boosted its position in Applied Materials by 1.0% in the 1st quarter. Hardy Reed LLC now owns 7,324 shares of the manufacturing equipment provider's stock valued at $1,063,000 after buying an additional 71 shares during the last quarter. Finally, Quotient Wealth Partners LLC boosted its position in Applied Materials by 2.9% in the 1st quarter. Quotient Wealth Partners LLC now owns 2,565 shares of the manufacturing equipment provider's stock valued at $372,000 after buying an additional 72 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AMAT shares. Wall Street Zen cut shares of Applied Materials from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Wells Fargo & Company increased their price target on shares of Applied Materials from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Cantor Fitzgerald set a $220.00 price target on shares of Applied Materials and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, Bank of America reduced their price target on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $204.74.

Insider Activity

In related news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the sale, the chief accounting officer owned 5,300 shares of the company's stock, valued at approximately $946,580. The trade was a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company's stock.

Applied Materials Price Performance

Applied Materials stock traded up $2.17 during mid-day trading on Monday, hitting $192.61. The company's stock had a trading volume of 5,019,220 shares, compared to its average volume of 7,110,175. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $154.57 billion, a P/E ratio of 23.43, a P/E/G ratio of 2.12 and a beta of 1.69. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $224.09. The stock's fifty day moving average price is $175.89 and its two-hundred day moving average price is $166.02.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The firm had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the business posted $2.09 EPS. The company's revenue was up 6.8% on a year-over-year basis. Research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a yield of 0.96%. Applied Materials's dividend payout ratio is currently 22.38%.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.