West Oak Capital LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 17.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,220 shares of the manufacturing equipment provider’s stock after selling 1,130 shares during the period. West Oak Capital LLC’s holdings in Applied Materials were worth $216,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. Reilly Financial Advisors LLC boosted its stake in shares of Applied Materials by 78.0% in the first quarter. Reilly Financial Advisors LLC now owns 2,692 shares of the manufacturing equipment provider’s stock worth $105,000 after buying an additional 1,180 shares during the last quarter. Pinnacle Bank bought a new stake in shares of Applied Materials during the first quarter worth approximately $113,000. State of Alaska Department of Revenue bought a new stake in shares of Applied Materials during the first quarter worth approximately $114,000. James Investment Research Inc. boosted its stake in shares of Applied Materials by 90.6% in the first quarter. James Investment Research Inc. now owns 3,050 shares of the manufacturing equipment provider’s stock worth $119,000 after buying an additional 1,450 shares during the last quarter. Finally, Clean Yield Group bought a new stake in shares of Applied Materials during the first quarter worth approximately $124,000. Institutional investors and hedge funds own 79.33% of the company’s stock.

Shares of Applied Materials, Inc. (AMAT) traded up 2.74% during midday trading on Friday, hitting $44.30. The stock had a trading volume of 20,996,205 shares. Applied Materials, Inc. has a 52-week low of $27.56 and a 52-week high of $47.86. The firm’s 50 day moving average price is $44.44 and its 200 day moving average price is $41.31. The firm has a market cap of $47.45 billion, a price-to-earnings ratio of 15.75 and a beta of 1.82.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Applied Materials had a return on equity of 42.08% and a net margin of 22.08%. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the company earned $0.50 earnings per share. The company’s revenue was up 32.7% on a year-over-year basis. On average, equities research analysts expect that Applied Materials, Inc. will post $3.12 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Stockholders of record on Thursday, August 24th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Tuesday, August 22nd. Applied Materials’s dividend payout ratio is currently 14.18%.

TRADEMARK VIOLATION WARNING: This piece was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another site, it was illegally copied and republished in violation of US & international copyright law. The legal version of this piece can be read at https://www.thecerbatgem.com/2017/08/19/west-oak-capital-llc-sells-1130-shares-of-applied-materials-inc-amat-updated-updated-updated.html.

AMAT has been the subject of a number of analyst reports. Bank of America Corporation restated a “buy” rating and issued a $54.00 price target (up previously from $45.00) on shares of Applied Materials in a research report on Wednesday, May 17th. UBS AG restated a “buy” rating and issued a $51.00 price target (up previously from $44.00) on shares of Applied Materials in a research report on Wednesday, May 17th. B. Riley reaffirmed a “buy” rating and issued a $56.00 price objective on shares of Applied Materials in a research note on Saturday, May 20th. Credit Suisse Group raised Applied Materials to a “buy” rating and set a $54.00 price objective for the company in a research note on Friday, May 19th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $48.00 price objective (up previously from $45.00) on shares of Applied Materials in a research note on Friday, May 19th. Five research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $43.34.

Applied Materials Company Profile

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

Receive News & Stock Ratings for Applied Materials Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials Inc. and related stocks with our FREE daily email newsletter.