Avitas Wealth Management LLC Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Avitas Wealth Management LLC increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 27.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,618 shares of the manufacturing equipment provider’s stock after purchasing an additional 8,409 shares during the period. Avitas Wealth Management LLC’s holdings in Applied Materials were worth $2,334,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Occidental Asset Management LLC lifted its position in shares of Applied Materials by 1.4% in the first quarter. Occidental Asset Management LLC now owns 15,190 shares of the manufacturing equipment provider’s stock worth $696,000 after buying an additional 212 shares in the last quarter. Tarbox Family Office Inc. raised its stake in Applied Materials by 36.1% during the second quarter. Tarbox Family Office Inc. now owns 909 shares of the manufacturing equipment provider’s stock valued at $55,000 after purchasing an additional 241 shares in the last quarter. Ballentine Partners LLC lifted its position in Applied Materials by 5.2% during the first quarter. Ballentine Partners LLC now owns 5,235 shares of the manufacturing equipment provider’s stock valued at $240,000 after purchasing an additional 257 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Applied Materials by 3.4% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 7,848 shares of the manufacturing equipment provider’s stock worth $474,000 after buying an additional 259 shares in the last quarter. Finally, Trillium Asset Management LLC increased its holdings in shares of Applied Materials by 0.3% in the 1st quarter. Trillium Asset Management LLC now owns 77,752 shares of the manufacturing equipment provider’s stock worth $3,563,000 after buying an additional 265 shares during the last quarter. 78.98% of the stock is currently owned by institutional investors.

In other Applied Materials news, Director Alexander Karsner sold 20,027 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $60.43, for a total transaction of $1,210,231.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.

AMAT has been the topic of a number of recent research reports. Barclays upped their price objective on Applied Materials from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Wells Fargo & Co raised their target price on shares of Applied Materials from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, May 15th. ValuEngine lowered Applied Materials from a “hold” rating to a “sell” rating in a report on Wednesday, June 3rd. KeyCorp restated a “buy” rating and set a $76.00 price objective on shares of Applied Materials in a report on Tuesday, May 26th. Finally, B. Riley upgraded Applied Materials from a “neutral” rating to a “buy” rating and upped their target price for the stock from $56.00 to $72.00 in a report on Friday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $68.50.

AMAT traded down $0.09 during trading hours on Friday, hitting $64.33. 5,901,236 shares of the stock were exchanged, compared to its average volume of 5,467,960. The company has a debt-to-equity ratio of 0.69, a current ratio of 2.67 and a quick ratio of 1.89. Applied Materials, Inc. has a 12 month low of $36.64 and a 12 month high of $69.44. The stock has a 50-day simple moving average of $61.01 and a 200-day simple moving average of $56.53. The stock has a market cap of $58.96 billion, a price-to-earnings ratio of 20.49, a price-to-earnings-growth ratio of 1.24 and a beta of 1.40.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.91 by ($0.02). Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same quarter in the previous year, the business posted $0.70 earnings per share. Sell-side analysts expect that Applied Materials, Inc. will post 3.81 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Thursday, August 20th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $0.88 annualized dividend and a yield of 1.37%. Applied Materials’s dividend payout ratio (DPR) is presently 28.95%.

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

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