Elevatus Welath Management Sells 1,508 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Elevatus Welath Management cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 45.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,777 shares of the manufacturing equipment provider’s stock after selling 1,508 shares during the quarter. Elevatus Welath Management’s holdings in Applied Materials were worth $258,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Forvis Mazars Wealth Advisors LLC raised its holdings in Applied Materials by 74.2% during the first quarter. Forvis Mazars Wealth Advisors LLC now owns 19,330 shares of the manufacturing equipment provider’s stock valued at $2,805,000 after acquiring an additional 8,236 shares during the period. Boston Family Office LLC increased its holdings in shares of Applied Materials by 57.8% in the first quarter. Boston Family Office LLC now owns 7,096 shares of the manufacturing equipment provider’s stock worth $1,030,000 after purchasing an additional 2,600 shares during the last quarter. Tocqueville Asset Management L.P. increased its holdings in shares of Applied Materials by 8.7% in the first quarter. Tocqueville Asset Management L.P. now owns 374,017 shares of the manufacturing equipment provider’s stock worth $54,277,000 after purchasing an additional 29,954 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Applied Materials by 1.5% in the first quarter. American Century Companies Inc. now owns 4,442,777 shares of the manufacturing equipment provider’s stock worth $644,736,000 after purchasing an additional 63,678 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of Applied Materials by 7.3% in the first quarter. EverSource Wealth Advisors LLC now owns 52,967 shares of the manufacturing equipment provider’s stock worth $7,687,000 after purchasing an additional 3,581 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the company’s stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the sale, the chief accounting officer directly owned 5,300 shares of the company’s stock, valued at approximately $946,580. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT opened at $161.76 on Friday. The company has a market capitalization of $129.81 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 2.10 and a beta of 1.70. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $215.70. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $184.18 and a 200 day moving average of $166.71.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.12. The company had revenue of $7.30 billion during the quarter, compared to the consensus estimate of $7.21 billion. Applied Materials had a net margin of 23.88% and a return on equity of 41.31%. Applied Materials’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.12 earnings per share. On average, sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.1%. Applied Materials’s payout ratio is 21.93%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AMAT. Deutsche Bank Aktiengesellschaft reduced their target price on Applied Materials from $200.00 to $170.00 and set a “hold” rating on the stock in a report on Friday. TD Cowen reduced their target price on Applied Materials from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Friday. DZ Bank reiterated a “sell” rating and issued a $150.00 price target on shares of Applied Materials in a research report on Friday. Evercore ISI reiterated an “outperform” rating and issued a $209.00 price target on shares of Applied Materials in a research report on Friday. Finally, Wolfe Research dropped their price target on Applied Materials from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Friday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and an average price target of $194.84.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.