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Independent Advisor Alliance Cuts Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Applied Materials logo with Computer and Technology background

Key Points

  • Independent Advisor Alliance reduced its stake in Applied Materials, Inc. by 8.1%, selling 2,002 shares, bringing its total holdings to 22,581 shares valued at approximately $3.28 million.
  • In Q1, Runnymede Capital Advisors Inc. increased its holdings in Applied Materials by an impressive 972.2%, while several other firms also established new stakes in the company.
  • Applied Materials reported earnings of $2.39 per share, exceeding analysts' expectations, and announced a quarterly dividend of $0.46 to be paid on September 11th.
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Independent Advisor Alliance cut its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 8.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,581 shares of the manufacturing equipment provider's stock after selling 2,002 shares during the quarter. Independent Advisor Alliance's holdings in Applied Materials were worth $3,277,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Belpointe Asset Management LLC lifted its stake in Applied Materials by 1.7% during the fourth 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 last quarter. Old Port Advisors raised its holdings in shares of Applied Materials by 2.5% during the 1st quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider's stock valued at $396,000 after buying an additional 66 shares in the last quarter. Silver Oak Securities Incorporated lifted 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 worth $218,000 after buying an additional 68 shares during the last quarter. Cromwell Holdings LLC boosted its stake in Applied Materials by 2.8% in the first quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock worth $369,000 after buying an additional 69 shares in the last quarter. Finally, TCTC Holdings LLC grew its position in Applied Materials by 7.2% during the first quarter. TCTC Holdings LLC now owns 1,047 shares of the manufacturing equipment provider's stock valued at $152,000 after acquiring an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Stock Up 0.8%

Shares of Applied Materials stock traded up $1.58 during trading on Wednesday, hitting $190.03. The company's stock had a trading volume of 5,918,970 shares, compared to its average volume of 6,109,001. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $215.70. The company has a market capitalization of $152.50 billion, a PE ratio of 23.12, a P/E/G ratio of 2.10 and a beta of 1.70. The company has a fifty day simple moving average of $183.24 and a two-hundred day simple moving average of $166.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46.

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

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.46 dividend. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 1.0%. Applied Materials's payout ratio is presently 22.38%.

Insider Buying and Selling

In other news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMAT. Barclays lifted their price objective on Applied Materials from $160.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Morgan Stanley lifted their price target on Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. Rothschild & Co Redburn lowered Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price objective for the company. in a research note on Monday, July 7th. The Goldman Sachs Group assumed coverage on shares of Applied Materials in a report on Thursday, July 10th. They issued a "buy" rating and a $225.00 target price on the stock. Finally, Raymond James Financial reiterated an "outperform" rating and set a $200.00 price target (down from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.09.

Read Our Latest Research Report on AMAT

Applied Materials Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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