Institute for Wealth Management LLC. Sells 554 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Institute for Wealth Management LLC. reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 21,483 shares of the manufacturing equipment provider’s stock after selling 554 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Applied Materials were worth $1,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of AMAT. Quadrant Capital Group LLC increased its stake in Applied Materials by 15.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,420 shares of the manufacturing equipment provider’s stock valued at $253,000 after purchasing an additional 583 shares in the last quarter. Guggenheim Capital LLC grew its holdings in shares of Applied Materials by 8.2% during the fourth quarter. Guggenheim Capital LLC now owns 788,248 shares of the manufacturing equipment provider’s stock valued at $48,115,000 after buying an additional 60,042 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Applied Materials by 21.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 28,500 shares of the manufacturing equipment provider’s stock valued at $1,740,000 after buying an additional 4,950 shares during the last quarter. Fulton Bank N.A. grew its holdings in shares of Applied Materials by 3.4% during the first quarter. Fulton Bank N.A. now owns 50,077 shares of the manufacturing equipment provider’s stock valued at $2,295,000 after buying an additional 1,631 shares during the last quarter. Finally, American National Bank grew its holdings in shares of Applied Materials by 1,106.1% during the first quarter. American National Bank now owns 10,855 shares of the manufacturing equipment provider’s stock valued at $497,000 after buying an additional 9,955 shares during the last quarter. 78.98% of the stock is owned by hedge funds and other institutional investors.

In other news, Director Alexander Karsner sold 3,467 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $60.50, for a total value of $209,753.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.41% of the company’s stock.

AMAT traded down $0.09 during midday trading on Friday, reaching $64.33. The company had a trading volume of 5,901,236 shares, compared to its average volume of 5,467,960. The business has a 50-day moving average price of $61.01 and a two-hundred day moving average price of $56.53. Applied Materials, Inc. has a 12-month low of $36.64 and a 12-month high of $69.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.89 and a current ratio of 2.67. The stock has a market cap of $58.96 billion, a PE ratio of 20.49, a P/E/G 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 consensus estimate of $0.91 by ($0.02). Applied Materials had a net margin of 18.89% and a return on equity of 37.13%. The business had revenue of $3.96 billion during the quarter, compared to the consensus estimate of $4.20 billion. During the same period last year, the firm earned $0.70 EPS. On average, research analysts anticipate that Applied Materials, Inc. will post 3.81 earnings per share for the current year.

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

AMAT has been the subject of a number of analyst reports. Barclays lifted their price objective on shares of Applied Materials from $60.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, July 20th. Deutsche Bank lifted their price objective on shares of Applied Materials from $65.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Stifel Nicolaus boosted their price target on shares of Applied Materials from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, May 15th. DA Davidson boosted their price target on shares of Applied Materials from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Finally, UBS Group boosted their price target on shares of Applied Materials from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, May 15th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $68.50.

Applied Materials Company 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.

Further Reading: Dead Cat Bounce

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

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