Evermay Wealth Management LLC Decreases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Evermay Wealth Management LLC reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.3% in the 1st quarter, Holdings Channel.com reports. The firm owned 3,069 shares of the manufacturing equipment provider’s stock after selling 173 shares during the period. Evermay Wealth Management LLC’s holdings in Applied Materials were worth $445,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMAT. Runnymede Capital Advisors Inc. lifted its position in shares of Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Applied Materials in the first quarter valued at $29,000. Mascagni Wealth Management Inc. purchased a new stake in Applied Materials in the fourth quarter valued at $44,000. Minot DeBlois Advisors LLC purchased a new stake in Applied Materials in the fourth quarter valued at $46,000. Finally, Park Square Financial Group LLC purchased a new stake in Applied Materials in the fourth quarter valued at $55,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of Applied Materials in a research report on Thursday, July 10th. They issued a “buy” rating and a $225.00 price target for the company. B. Riley reduced their price target on shares of Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a research report on Monday, May 12th. Wall Street Zen cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. TD Cowen reduced their price target on shares of Applied Materials from $225.00 to $220.00 and set a “buy” rating for the company in a research report on Friday, May 16th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $200.00 price target (down from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.17.

Applied Materials Trading Down 1.3%

Shares of AMAT opened at $185.69 on Monday. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The firm’s 50-day moving average is $177.59 and its two-hundred day moving average is $166.44. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $215.70. The firm has a market capitalization of $149.02 billion, a P/E ratio of 22.59, a PEG ratio of 2.07 and a beta of 1.69.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The firm’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research 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 announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 0.99%. Applied Materials’s payout ratio is currently 22.38%.

Applied Materials Company 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.