Navellier & Associates Inc lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 12.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 108,689 shares of the manufacturing equipment provider’s stock after selling 14,862 shares during the quarter. Navellier & Associates Inc’s holdings in Applied Materials were worth $4,490,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Summit Financial Wealth Advisors LLC increased its holdings in Applied Materials by 0.3% in the second quarter. Summit Financial Wealth Advisors LLC now owns 6,269 shares of the manufacturing equipment provider’s stock valued at $259,000 after purchasing an additional 19 shares during the last quarter. Guardian Life Insurance Co. of America increased its holdings in Applied Materials by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock valued at $162,000 after purchasing an additional 29 shares during the last quarter. Adirondack Trust Co. increased its holdings in Applied Materials by 1.1% in the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock valued at $151,000 after purchasing an additional 40 shares during the last quarter. Affinity Wealth Management increased its holdings in Applied Materials by 0.8% in the second quarter. Affinity Wealth Management now owns 6,387 shares of the manufacturing equipment provider’s stock valued at $264,000 after purchasing an additional 48 shares during the last quarter. Finally, RMB Capital Management LLC increased its holdings in Applied Materials by 1.0% in the first quarter. RMB Capital Management LLC now owns 6,280 shares of the manufacturing equipment provider’s stock valued at $244,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 79.45% of the company’s stock.

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In other news, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total value of $1,537,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total transaction of $1,002,210.86. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Several equities research analysts have issued reports on the company. B. Riley restated a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a report on Tuesday, July 11th. Instinet restated a “buy” rating and issued a $55.00 price target (up from $50.00) on shares of Applied Materials in a report on Saturday, September 30th. Craig Hallum restated a “buy” rating and issued a $76.00 price target (up from $60.00) on shares of Applied Materials in a report on Thursday, September 28th. Stifel Nicolaus restated a “buy” rating on shares of Applied Materials in a report on Sunday, October 1st. Finally, Vetr upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price target for the company in a report on Thursday, August 10th. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $56.64.

Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded up 1.418% during trading on Monday, hitting $54.705. The stock had a trading volume of 4,910,725 shares. The firm’s 50 day moving average is $48.27 and its 200 day moving average is $44.41. Applied Materials, Inc. has a 1-year low of $27.74 and a 1-year high of $54.80. The company has a market cap of $58.34 billion, a PE ratio of 19.447 and a beta of 1.86.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a net margin of 24.71% and a return on equity of 43.83%. The business’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. Equities research analysts anticipate that Applied Materials, Inc. will post $3.21 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.74%. Applied Materials’s payout ratio is currently 14.18%.

Applied Materials Company Profile

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

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