American Trust Investment Advisors LLC Lowers Position in Applied Materials, Inc. (AMAT)

American Trust Investment Advisors LLC reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 49.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 21,790 shares of the manufacturing equipment provider’s stock after selling 21,220 shares during the period. American Trust Investment Advisors LLC’s holdings in Applied Materials were worth $900,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pinnacle Bank purchased a new position in Applied Materials during the first quarter worth $113,000. Fox Run Management L.L.C. purchased a new position in Applied Materials during the first quarter worth $568,000. Eastern Bank increased its position in Applied Materials by 5.2% in the first quarter. Eastern Bank now owns 6,842 shares of the manufacturing equipment provider’s stock worth $266,000 after buying an additional 340 shares during the period. Atria Investments LLC increased its position in Applied Materials by 21.9% in the first quarter. Atria Investments LLC now owns 14,643 shares of the manufacturing equipment provider’s stock worth $570,000 after buying an additional 2,631 shares during the period. Finally, Inverness Counsel LLC NY increased its position in Applied Materials by 37.7% in the first quarter. Inverness Counsel LLC NY now owns 332,570 shares of the manufacturing equipment provider’s stock worth $12,561,000 after buying an additional 91,100 shares during the period. 79.33% of the stock is currently owned by institutional investors.

Applied Materials, Inc. (NASDAQ:AMAT) traded up 2.74% during mid-day trading on Friday, hitting $44.30. The company had a trading volume of 20,996,205 shares. The stock has a market capitalization of $47.45 billion, a PE ratio of 15.75 and a beta of 1.82. The stock has a 50 day moving average price of $44.44 and a 200-day moving average price of $41.31. Applied Materials, Inc. has a 1-year low of $27.56 and a 1-year high of $47.86.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $3.74 billion during the quarter, compared to the consensus estimate of $3.69 billion. Applied Materials had a net margin of 22.08% and a return on equity of 42.08%. Applied Materials’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. On average, analysts forecast that Applied Materials, Inc. will post $3.12 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 14th. Shareholders of record on Thursday, August 24th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, August 22nd. This represents a $0.40 dividend on an annualized basis and a yield of 0.90%. Applied Materials’s payout ratio is currently 14.18%.

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A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Monday, August 14th. Bank of America Corporation reissued a “buy” rating and set a $65.00 price objective (up from $58.00) on shares of Applied Materials in a report on Sunday, June 11th. Morgan Stanley reissued an “overweight” rating and set a $52.00 price objective on shares of Applied Materials in a report on Monday, August 14th. B. Riley reissued a “buy” rating and set a $61.00 price objective on shares of Applied Materials in a report on Saturday. Finally, Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 price objective for the company in a report on Thursday, June 29th. Five equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $43.34.

Applied Materials Company Profile

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

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