Summit Wealth Group LLC Co. Sells 3,426 Shares of Applied Materials, Inc. $AMAT

Key Points

• Summit Wealth Group cut its Applied Materials stake by 59.2% in the fourth quarter, selling 3,426 shares and leaving it with 2,359 shares worth about $606,000.
• Insider selling also picked up, with director Judy Bruner and CFO Brice Hill both selling shares; insiders sold 12,003 shares in the last quarter worth $4.48 million.
• Applied Materials reported strong quarterly results and is getting a boost from analyst optimism tied to AI-chip demand, while also raising its quarterly dividend to $0.53 per share.

Summit Wealth Group LLC Co. trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 59.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,359 shares of the manufacturing equipment provider's stock after selling 3,426 shares during the quarter. Summit Wealth Group LLC Co.'s holdings in Applied Materials were worth $606,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of AMAT. Redmont Wealth Advisors LLC acquired a new position in Applied Materials during the 3rd quarter worth approximately $26,000. Highline Wealth Partners LLC boosted its position in Applied Materials by 48.7% during the 4th quarter. Highline Wealth Partners LLC now owns 116 shares of the manufacturing equipment provider's stock worth $30,000 after acquiring an additional 38 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Applied Materials during the 3rd quarter worth approximately $31,000. Joseph Group Capital Management acquired a new position in Applied Materials during the 4th quarter worth approximately $31,000. Finally, Dogwood Wealth Management LLC boosted its position in Applied Materials by 52.4% during the 4th quarter. Dogwood Wealth Management LLC now owns 128 shares of the manufacturing equipment provider's stock worth $33,000 after acquiring an additional 44 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Insider Activity at Applied Materials

In related news, Director Judy Bruner sold 2,500 shares of the stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $391.71, for a total value of $979,275.00. Following the sale, the director owned 26,089 shares in the company, valued at approximately $10,219,322.19. This represents a 8.74% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brice Hill sold 5,000 shares of the stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $361.21, for a total value of $1,806,050.00. Following the completion of the sale, the chief financial officer owned 138,565 shares in the company, valued at approximately $50,051,063.65. This trade represents a 3.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 12,003 shares of company stock worth $4,484,189. Company insiders own 0.30% of the company's stock.

Applied Materials News Roundup

Here are the key news stories impacting Applied Materials this week:

• Positive Sentiment: Citigroup reportedly raised its price target on Applied Materials, adding to a cluster of analyst upgrades that point to confidence in the company’s AI-chip exposure and earnings outlook. Citi massively revamps Applied Materials stock price target
• Positive Sentiment: Analysts are highlighting strong demand in DRAM and logic, with Applied Materials’ semiconductor systems business benefiting from foundry and AI infrastructure spending ahead of earnings. AMAT's Q2 Results to Benefit From Traction in DRAM and Logic
• Positive Sentiment: New coverage and commentary continue to frame AMAT as a key AI infrastructure winner, with articles and TV mentions emphasizing a semiconductor equipment shortage and Applied Materials’ deepening role in chip manufacturing. How Applied Materials (AMAT) Is Deepening Its Role in AI Chip Manufacturing
• Neutral Sentiment: Investors are watching Thursday’s earnings closely, with several previews suggesting the stock could make a big move depending on whether results and guidance confirm the AI-driven rally. Dear Applied Materials Stock Fans, Mark Your Calendars for May 14
• Negative Sentiment: One broader market warning from a top chartist said U.S. tech stocks are at their highest concentration since the 2000 bubble, a reminder that AMAT’s recent strength could face valuation and sentiment risk if the AI trade cools. Wall Street's Top Chartist Warns US Tech Stocks Now At Highest Concentration Since the 2000 Bubble

Applied Materials Trading Up 1.3%

NASDAQ AMAT opened at $436.61 on Thursday. The company has a market cap of $346.50 billion, a PE ratio of 44.69, a PEG ratio of 1.91 and a beta of 1.66. The company has a current ratio of 2.71, a quick ratio of 1.94 and a debt-to-equity ratio of 0.30. Applied Materials, Inc. has a 12 month low of $153.47 and a 12 month high of $448.45. The stock has a 50 day moving average of $375.73 and a 200-day moving average of $317.13.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, February 12th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.21 by $0.17. The company had revenue of $7.01 billion during the quarter, compared to the consensus estimate of $6.88 billion. Applied Materials had a return on equity of 37.52% and a net margin of 27.78%.The firm's revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.38 EPS. On average, equities research analysts anticipate that Applied Materials, Inc. will post 11.16 EPS for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 11th. Investors of record on Thursday, May 21st will be paid a $0.53 dividend. This is a boost from Applied Materials's previous quarterly dividend of $0.46. The ex-dividend date is Thursday, May 21st. This represents a $2.12 dividend on an annualized basis and a yield of 0.5%. Applied Materials's dividend payout ratio (DPR) is currently 18.83%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AMAT. TD Cowen upped their price target on Applied Materials from $315.00 to $450.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. Citigroup upped their price target on Applied Materials from $420.00 to $520.00 and gave the stock a "buy" rating in a research report on Tuesday. The Goldman Sachs Group upped their price target on Applied Materials from $310.00 to $390.00 and gave the stock a "buy" rating in a research report on Friday, February 13th. DZ Bank raised Applied Materials to a "hold" rating in a research report on Monday, February 16th. Finally, HSBC began coverage on Applied Materials in a report on Friday, May 8th. They issued a "buy" rating and a $517.00 price objective for the company. Twenty-eight investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $384.52.

Applied Materials Company Profile

Applied Materials, Inc is a U.S.-based supplier of equipment, services and software used to manufacture semiconductor chips, flat panel displays and other advanced materials. Headquartered in Santa Clara, California, the company designs and sells capital equipment and related technologies that enable production of integrated circuits, display panels and materials used across the electronics supply chain.

Applied Materials' offerings include process equipment and factory software that support critical steps in device fabrication, such as deposition, etch, implantation, inspection and metrology, as well as systems for packaging and advanced heterogeneous integration.

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