Intellectus Partners LLC Sells 842 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Intellectus Partners LLC lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 9.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,096 shares of the manufacturing equipment provider’s stock after selling 842 shares during the quarter. Intellectus Partners LLC’s holdings in Applied Materials were worth $1,153,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Elmwood Wealth Management Inc. bought a new stake in shares of Applied Materials in the second quarter valued at approximately $28,000. Gleason Group Inc. lifted its position in Applied Materials by 124.5% in the second quarter. Gleason Group Inc. now owns 229 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 127 shares during the period. Cypress Point Wealth Management LLC bought a new position in Applied Materials in the second quarter worth $36,000. Twin Lakes Capital Management LLC bought a new position in Applied Materials in the first quarter worth $40,000. Finally, Sargent Bickham Lagudis LLC lifted its position in Applied Materials by 190.5% in the first quarter. Sargent Bickham Lagudis LLC now owns 305 shares of the manufacturing equipment provider’s stock worth $41,000 after purchasing an additional 200 shares during the period. 75.37% of the stock is owned by hedge funds and other institutional investors.

In related news, CFO Daniel Durn sold 5,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $134.59, for a total value of $672,950.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Ginetto Addiego sold 40,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, September 1st. The shares were sold at an average price of $134.83, for a total value of $5,393,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 51,000 shares of company stock worth $6,928,710 in the last quarter. 0.37% of the stock is currently owned by company insiders.

Several research analysts recently commented on AMAT shares. Morgan Stanley raised their target price on Applied Materials from $139.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, August 20th. Mizuho increased their price objective on Applied Materials from $158.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday, August 20th. Susquehanna lowered Applied Materials from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $160.00 in a research note on Tuesday, September 14th. Susquehanna Bancshares lowered Applied Materials from a “positive” rating to a “neutral” rating and dropped their price objective for the stock from $170.00 to $160.00 in a research note on Tuesday, September 14th. Finally, New Street Research lowered Applied Materials from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $162.38 to $140.00 in a research note on Tuesday, September 28th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $152.39.

AMAT traded up $2.87 during midday trading on Thursday, reaching $131.08. 169,099 shares of the company were exchanged, compared to its average volume of 8,473,251. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.17 and a current ratio of 2.98. Applied Materials, Inc. has a one year low of $56.87 and a one year high of $146.00. The stock has a market capitalization of $118.36 billion, a P/E ratio of 22.30, a PEG ratio of 1.03 and a beta of 1.44. The stock’s 50-day simple moving average is $133.93 and its 200 day simple moving average is $134.46.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Wednesday, August 18th. The manufacturing equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.13. Applied Materials had a return on equity of 49.27% and a net margin of 24.54%. The firm had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the business earned $1.06 earnings per share. On average, research analysts anticipate that Applied Materials, Inc. will post 6.84 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Shareholders of record on Friday, November 26th will be issued a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date is Wednesday, November 24th. Applied Materials’s dividend payout ratio (DPR) is currently 23.02%.

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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