Livingston Group Asset Management CO operating as Southport Capital Management lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 27.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,671 shares of the manufacturing equipment provider’s stock after selling 5,864 shares during the quarter. Livingston Group Asset Management CO operating as Southport Capital Management’s holdings in Applied Materials were worth $2,017,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. TIAA FSB boosted its holdings in shares of Applied Materials by 3.4% in the 3rd quarter. TIAA FSB now owns 37,682 shares of the manufacturing equipment provider’s stock valued at $4,851,000 after buying an additional 1,236 shares during the last quarter. Canton Hathaway LLC bought a new stake in Applied Materials in the 3rd quarter valued at $56,000. Teamwork Financial Advisors LLC bought a new stake in Applied Materials in the 3rd quarter valued at $262,000. GFG Capital LLC bought a new stake in Applied Materials in the 3rd quarter valued at $4,420,000. Finally, Gofen & Glossberg LLC IL raised its stake in Applied Materials by 8.8% in the 3rd quarter. Gofen & Glossberg LLC IL now owns 5,811 shares of the manufacturing equipment provider’s stock valued at $748,000 after acquiring an additional 470 shares during the period. 76.72% of the stock is owned by institutional investors.
In other news, SVP Ginetto Addiego sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $134.83, for a total transaction of $5,393,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, September 1st. The stock was sold at an average price of $134.59, for a total value of $672,950.00. The disclosure for this sale can be found here. Company insiders own 0.37% of the company’s stock.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 18th. The manufacturing equipment provider reported $1.94 earnings per share for the quarter, missing the consensus estimate of $1.95 by ($0.01). The business had revenue of $6.12 billion during the quarter, compared to analyst estimates of $6.34 billion. Applied Materials had a net margin of 25.53% and a return on equity of 52.64%. The business’s quarterly revenue was up 30.5% compared to the same quarter last year. During the same period last year, the business earned $1.25 earnings per share. On average, equities analysts predict that Applied Materials, Inc. will post 7.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 16th. Stockholders of record on Friday, November 26th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, November 24th. Applied Materials’s payout ratio is 14.98%.
A number of equities research analysts recently weighed in on the company. Credit Suisse Group increased their price target on Applied Materials from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, November 19th. Morgan Stanley increased their price target on Applied Materials from $139.00 to $150.00 and gave the company an “equal weight” rating in a research note on Friday, August 20th. DA Davidson increased their price target on Applied Materials from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, November 19th. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating and set a $155.00 price target on the stock. in a research note on Tuesday. Finally, Piper Sandler began coverage on Applied Materials in a research report on Thursday, October 14th. They set a “neutral” rating and a $130.00 price objective on the stock. Seven analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $159.14.
About Applied Materials
Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.
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