Westbourne Investment Advisors Inc. lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 9.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,650 shares of the manufacturing equipment provider’s stock after selling 600 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Applied Materials were worth $282,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sandy Spring Bank grew its position in Applied Materials by 57.4% in the 2nd quarter. Sandy Spring Bank now owns 787 shares of the manufacturing equipment provider’s stock worth $35,000 after purchasing an additional 287 shares during the period. Next Capital Management LLC bought a new stake in shares of Applied Materials during the 2nd quarter valued at $35,000. Coastal Capital Group Inc. bought a new stake in shares of Applied Materials during the 2nd quarter valued at $36,000. Motco bought a new stake in shares of Applied Materials during the 2nd quarter valued at $50,000. Finally, Wealthcare Advisory Partners LLC grew its position in shares of Applied Materials by 140.1% during the 2nd quarter. Wealthcare Advisory Partners LLC now owns 1,587 shares of the manufacturing equipment provider’s stock valued at $71,000 after acquiring an additional 926 shares during the period. 78.90% of the stock is owned by institutional investors.
In other Applied Materials news, Director Dennis D. Powell sold 25,218 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $51.44, for a total value of $1,297,213.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Stephen R. Forrest sold 3,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total transaction of $138,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,945 shares of company stock worth $2,776,105. Corporate insiders own 0.44% of the company’s stock.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping the consensus estimate of $0.70 by $0.04. The business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The business’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS. On average, research analysts forecast that Applied Materials, Inc. will post 3 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 1.61%. The ex-dividend date is Wednesday, November 20th. Applied Materials’s payout ratio is currently 18.88%.
A number of brokerages have recently issued reports on AMAT. Nomura set a $40.00 price objective on shares of Applied Materials and gave the company a “hold” rating in a research report on Friday, August 16th. KeyCorp cut their price objective on shares of Applied Materials from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Friday, August 16th. Cowen reissued an “outperform” rating and set a $55.00 price objective (up previously from $53.00) on shares of Applied Materials in a research report on Friday, August 16th. DA Davidson downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating and cut their price objective for the company from $55.00 to $45.00 in a research report on Monday, July 8th. Finally, Deutsche Bank boosted their price objective on shares of Applied Materials from $47.00 to $52.00 and gave the company a “hold” rating in a research report on Thursday, October 10th. Ten analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Applied Materials currently has a consensus rating of “Buy” and an average target price of $52.10.
Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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