Livingston Group Asset Management CO operating as Southport Capital Management Cuts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Livingston Group Asset Management CO operating as Southport Capital Management lowered its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 27.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,671 shares of the manufacturing equipment provider’s stock after selling 5,864 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Applied Materials were worth $2,017,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Applied Materials by 0.3% in the second quarter. Vanguard Group Inc. now owns 73,525,390 shares of the manufacturing equipment provider’s stock valued at $10,470,015,000 after buying an additional 190,682 shares during the period. FMR LLC raised its stake in shares of Applied Materials by 13.6% in the second quarter. FMR LLC now owns 21,693,309 shares of the manufacturing equipment provider’s stock valued at $3,089,127,000 after buying an additional 2,593,318 shares during the period. Capital International Investors raised its stake in shares of Applied Materials by 5.8% in the second quarter. Capital International Investors now owns 18,742,933 shares of the manufacturing equipment provider’s stock valued at $2,668,988,000 after buying an additional 1,022,540 shares during the period. Geode Capital Management LLC raised its stake in shares of Applied Materials by 2.4% in the second quarter. Geode Capital Management LLC now owns 14,995,325 shares of the manufacturing equipment provider’s stock valued at $2,129,606,000 after buying an additional 358,338 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Applied Materials by 2.6% in the second quarter. Bank of New York Mellon Corp now owns 14,325,733 shares of the manufacturing equipment provider’s stock valued at $2,039,982,000 after buying an additional 362,435 shares during the period. 76.72% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP Ginetto Addiego sold 40,000 shares of the stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $134.83, for a total transaction of $5,393,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Daniel Durn sold 5,000 shares of the stock in a transaction dated Wednesday, September 1st. The shares were sold at an average price of $134.59, for a total value of $672,950.00. The disclosure for this sale can be found here. 0.37% of the stock is currently owned by corporate insiders.

Shares of AMAT traded up $0.33 during midday trading on Thursday, reaching $149.01. The stock had a trading volume of 6,185,926 shares, compared to its average volume of 8,250,205. The company’s 50-day moving average is $139.68 and its 200 day moving average is $136.50. Applied Materials, Inc. has a 12-month low of $80.71 and a 12-month high of $159.00. The company has a current ratio of 2.54, a quick ratio of 1.86 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $134.55 billion, a price-to-earnings ratio of 23.25, a price-to-earnings-growth ratio of 0.97 and a beta of 1.41.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 18th. The manufacturing equipment provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.95 by ($0.01). Applied Materials had a return on equity of 52.64% and a net margin of 25.53%. The firm had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter in the previous year, the company posted $1.25 earnings per share. Applied Materials’s revenue for the quarter was up 30.5% compared to the same quarter last year. Research analysts forecast that Applied Materials, Inc. will post 7.95 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 16th. Stockholders of record on Friday, November 26th will be issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Wednesday, November 24th. Applied Materials’s payout ratio is currently 14.98%.

Several analysts have issued reports on the company. Cowen boosted their target price on Applied Materials from $175.00 to $190.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Wells Fargo & Company boosted their target price on Applied Materials from $175.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, November 19th. Credit Suisse Group boosted their price objective on Applied Materials from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Mizuho boosted their price objective on Applied Materials from $158.00 to $161.00 and gave the company a “buy” rating in a research note on Friday, August 20th. Finally, New Street Research lowered Applied Materials from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $162.38 to $140.00 in a research note on Tuesday, September 28th. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Applied Materials presently has an average rating of “Buy” and a consensus target price of $159.14.

About Applied Materials

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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

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