Applied Materials, Inc. (AMAT) Shares Sold by Financial Counselors Inc.

Financial Counselors Inc. lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 79,194 shares of the manufacturing equipment provider’s stock after selling 1,462 shares during the quarter. Financial Counselors Inc.’s holdings in Applied Materials were worth $3,658,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Wetherby Asset Management Inc. increased its position in Applied Materials by 5.2% during the first quarter. Wetherby Asset Management Inc. now owns 19,210 shares of the manufacturing equipment provider’s stock worth $1,068,000 after buying an additional 955 shares during the last quarter. IHT Wealth Management LLC increased its position in Applied Materials by 18.7% during the first quarter. IHT Wealth Management LLC now owns 6,121 shares of the manufacturing equipment provider’s stock worth $324,000 after buying an additional 965 shares during the last quarter. Blue Pool Management Ltd. increased its position in Applied Materials by 0.4% during the first quarter. Blue Pool Management Ltd. now owns 265,500 shares of the manufacturing equipment provider’s stock worth $14,764,000 after buying an additional 1,000 shares during the last quarter. Cornerstone Advisors Inc. increased its position in Applied Materials by 25.2% during the second quarter. Cornerstone Advisors Inc. now owns 5,152 shares of the manufacturing equipment provider’s stock worth $238,000 after buying an additional 1,037 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Applied Materials by 30.5% during the second quarter. Parallel Advisors LLC now owns 4,657 shares of the manufacturing equipment provider’s stock worth $215,000 after buying an additional 1,088 shares during the last quarter. 75.38% of the stock is currently owned by institutional investors and hedge funds.

Shares of AMAT stock traded down $0.12 during trading on Friday, hitting $43.02. The company had a trading volume of 9,958,900 shares, compared to its average volume of 13,702,083. The company has a current ratio of 2.52, a quick ratio of 1.67 and a debt-to-equity ratio of 0.78. The stock has a market cap of $42.66 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 0.76 and a beta of 1.63. Applied Materials, Inc. has a one year low of $42.52 and a one year high of $62.40.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 16th. The manufacturing equipment provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.03. The business had revenue of $4.47 billion during the quarter, compared to analysts’ expectations of $4.42 billion. Applied Materials had a return on equity of 58.23% and a net margin of 19.87%. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. analysts forecast that Applied Materials, Inc. will post 4.45 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 13th. Investors of record on Thursday, August 23rd will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 24.62%.

A number of brokerages have weighed in on AMAT. BidaskClub raised Applied Materials from a “sell” rating to a “hold” rating in a research report on Wednesday, July 18th. Craig Hallum reduced their price objective on Applied Materials from $76.00 to $65.00 and set a “buy” rating for the company in a report on Friday, May 18th. They noted that the move was a valuation call. Deutsche Bank set a $65.00 price objective on Applied Materials and gave the stock a “buy” rating in a report on Friday, May 18th. Bank of America reduced their price objective on Applied Materials from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 17th. Finally, Citigroup reduced their price objective on Applied Materials from $73.00 to $68.00 and set a “buy” rating for the company in a report on Friday, August 17th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $61.84.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.

Further Reading: Diversification

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

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