Belpointe Asset Management LLC bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 14,229 shares of the manufacturing equipment provider’s stock, valued at approximately $741,000.

Several other institutional investors also recently added to or reduced their stakes in AMAT. Bessemer Group Inc. lifted its position in shares of Applied Materials by 145.4% during the 2nd quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after acquiring an additional 1,817 shares during the period. Wetherby Asset Management Inc. lifted its position in shares of Applied Materials by 1.2% during the 2nd quarter. Wetherby Asset Management Inc. now owns 17,697 shares of the manufacturing equipment provider’s stock valued at $731,000 after acquiring an additional 215 shares during the period. Schwab Charles Investment Management Inc. lifted its position in shares of Applied Materials by 8.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 4,108,012 shares of the manufacturing equipment provider’s stock valued at $169,702,000 after acquiring an additional 333,151 shares during the period. Harel Insurance Investments & Financial Services Ltd. lifted its position in shares of Applied Materials by 175.0% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 5,500 shares of the manufacturing equipment provider’s stock valued at $227,000 after acquiring an additional 3,500 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Applied Materials by 2.9% during the 2nd quarter. First Trust Advisors LP now owns 2,507,537 shares of the manufacturing equipment provider’s stock valued at $103,586,000 after acquiring an additional 70,779 shares during the period. Institutional investors own 79.15% of the company’s stock.

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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen R. Forrest sold 5,000 shares of the company’s stock in a transaction on Friday, November 24th. The stock was sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. Corporate insiders own 0.31% of the company’s stock.

Shares of Applied Materials, Inc. (AMAT) opened at $50.76 on Thursday. Applied Materials, Inc. has a one year low of $31.66 and a one year high of $60.89. The company has a quick ratio of 2.43, a current ratio of 3.14 and a debt-to-equity ratio of 0.57. The stock has a market cap of $54,130.00, a price-to-earnings ratio of 15.88, a PEG ratio of 0.98 and a beta of 1.80.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The firm had revenue of $3.97 billion during the quarter, compared to analyst estimates of $3.93 billion. During the same quarter in the prior year, the business posted $0.66 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. research analysts expect that Applied Materials, Inc. will post 3.96 earnings per share for the current year.

A number of research analysts recently issued reports on AMAT shares. Wells Fargo & Company started coverage on shares of Applied Materials in a research report on Tuesday, December 5th. They set an “outperform” rating and a $65.00 target price on the stock. Credit Suisse Group restated a “buy” rating on shares of Applied Materials in a research note on Tuesday, August 29th. Goldman Sachs Group upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and boosted their price target for the company from $49.00 to $52.00 in a research note on Wednesday, September 13th. Morgan Stanley restated an “overweight” rating on shares of Applied Materials in a research note on Thursday, September 14th. Finally, Bank of America boosted their price target on shares of Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Three analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $61.15.

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Applied Materials Profile

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

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