Wafra Investment Advisory Group Inc. NY Reduces Holdings in Applied Materials, Inc. (AMAT)

Wafra Investment Advisory Group Inc. NY decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 358,610 shares of the manufacturing equipment provider’s stock after selling 9,600 shares during the quarter. Applied Materials makes up about 0.7% of Wafra Investment Advisory Group Inc. NY’s holdings, making the stock its 29th largest position. Wafra Investment Advisory Group Inc. NY’s holdings in Applied Materials were worth $14,814,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AMAT. First National Trust Co. grew its holdings in shares of Applied Materials by 35.1% during the first quarter. First National Trust Co. now owns 47,622 shares of the manufacturing equipment provider’s stock worth $1,852,000 after buying an additional 12,367 shares during the last quarter. Oxford Asset Management purchased a new position in shares of Applied Materials during the first quarter worth about $4,956,000. Baird Financial Group Inc. grew its holdings in shares of Applied Materials by 521.4% during the first quarter. Baird Financial Group Inc. now owns 67,137 shares of the manufacturing equipment provider’s stock worth $2,612,000 after buying an additional 56,332 shares during the last quarter. Penserra Capital Management LLC grew its holdings in shares of Applied Materials by 6.8% during the first quarter. Penserra Capital Management LLC now owns 70,602 shares of the manufacturing equipment provider’s stock worth $2,746,000 after buying an additional 4,524 shares during the last quarter. Finally, Independent Advisor Alliance grew its holdings in shares of Applied Materials by 82.7% during the first quarter. Independent Advisor Alliance now owns 5,686 shares of the manufacturing equipment provider’s stock worth $218,000 after buying an additional 2,573 shares during the last quarter. 79.48% of the stock is currently owned by institutional investors.

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In related news, Director Alexander Karsner sold 22,762 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $51.24, for a total transaction of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by corporate insiders.

Shares of Applied Materials, Inc. (AMAT) traded down 1.471% on Tuesday, hitting $51.915. The company had a trading volume of 4,174,079 shares. The company has a 50-day moving average of $47.05 and a 200 day moving average of $44.00. Applied Materials, Inc. has a 12 month low of $27.56 and a 12 month high of $53.07. The stock has a market cap of $55.37 billion, a PE ratio of 18.455 and a beta of 1.86.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.84 by $0.02. The business 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 40.74%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. Analysts anticipate that Applied Materials, Inc. will post $3.20 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be given a $0.10 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. Applied Materials’s dividend payout ratio (DPR) is presently 14.18%.

A number of equities analysts recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating on shares of Applied Materials in a report on Sunday, October 1st. B. Riley reissued a “buy” rating and set a $63.00 price target on shares of Applied Materials in a report on Saturday, September 30th. Instinet reissued a “buy” rating and set a $55.00 price target (up previously from $50.00) on shares of Applied Materials in a report on Saturday, September 30th. Evercore ISI reissued an “outperform” rating and set a $65.00 price target (up previously from $56.00) on shares of Applied Materials in a report on Saturday, September 30th. Finally, Nomura raised their price target on Applied Materials from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, September 29th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $56.01.

Applied Materials Profile

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

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