Alpha Cubed Investments LLC Cuts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Alpha Cubed Investments LLC cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,957 shares of the manufacturing equipment provider’s stock after selling 646 shares during the period. Alpha Cubed Investments LLC’s holdings in Applied Materials were worth $904,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Csenge Advisory Group purchased a new stake in Applied Materials in the 1st quarter worth $245,000. CENTRAL TRUST Co increased its holdings in shares of Applied Materials by 88.0% in the first quarter. CENTRAL TRUST Co now owns 26,451 shares of the manufacturing equipment provider’s stock worth $1,212,000 after purchasing an additional 12,380 shares during the last quarter. Verus Capital Partners LLC lifted its position in shares of Applied Materials by 500.0% in the first quarter. Verus Capital Partners LLC now owns 600 shares of the manufacturing equipment provider’s stock worth $27,000 after buying an additional 500 shares in the last quarter. Primecap Management Co. CA lifted its position in shares of Applied Materials by 15.9% in the first quarter. Primecap Management Co. CA now owns 5,768,635 shares of the manufacturing equipment provider’s stock worth $264,319,000 after buying an additional 790,000 shares in the last quarter. Finally, APG Asset Management N.V. boosted its stake in Applied Materials by 14.9% during the first quarter. APG Asset Management N.V. now owns 1,509,083 shares of the manufacturing equipment provider’s stock valued at $69,146,000 after buying an additional 195,293 shares during the last quarter. Institutional investors and hedge funds own 78.98% of the company’s stock.

NASDAQ:AMAT opened at $62.59 on Tuesday. The company has a market cap of $57.36 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.21 and a beta of 1.40. Applied Materials, Inc. has a twelve month low of $36.64 and a twelve month high of $69.44. The company has a current ratio of 2.67, a quick ratio of 1.89 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $59.10 and a 200-day simple moving average of $56.41.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 14th. The manufacturing equipment provider reported $0.89 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.91 by ($0.02). Applied Materials had a return on equity of 37.13% and a net margin of 18.89%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $4.20 billion. During the same period in the prior year, the business earned $0.70 EPS. As a group, equities research analysts predict that Applied Materials, Inc. will post 3.81 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Wednesday, August 19th. Applied Materials’s dividend payout ratio (DPR) is presently 28.95%.

Several brokerages have recently issued reports on AMAT. Cowen upped their price objective on Applied Materials from $60.00 to $72.00 in a report on Friday, May 15th. Needham & Company LLC decreased their price target on shares of Applied Materials from $73.00 to $70.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. They noted that the move was a valuation call. BidaskClub raised shares of Applied Materials from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 20th. Zacks Investment Research cut shares of Applied Materials from a “buy” rating to a “hold” rating and set a $64.00 target price on the stock. in a research report on Tuesday, June 23rd. Finally, Cfra lowered their price target on shares of Applied Materials from $68.00 to $60.00 and set a “hold” rating for the company in a report on Friday, May 15th. Two analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Applied Materials presently has an average rating of “Buy” and a consensus target price of $67.48.

In other news, Director Alexander Karsner sold 3,467 shares of Applied Materials stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $60.50, for a total transaction of $209,753.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.41% of the company’s stock.

About Applied Materials

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.

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

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