Pinebridge Investments L.P. Has $4.19 Million Stake in Applied Materials, Inc. (AMAT)

Pinebridge Investments L.P. cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 21.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,347 shares of the manufacturing equipment provider’s stock after selling 21,544 shares during the quarter. Pinebridge Investments L.P.’s holdings in Applied Materials were worth $4,185,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMAT. LeJeune Puetz Investment Counsel LLC purchased a new stake in shares of Applied Materials during the third quarter valued at $105,000. MPS Loria Financial Planners LLC purchased a new stake in shares of Applied Materials during the second quarter valued at $109,000. First Personal Financial Services boosted its position in shares of Applied Materials by 281.5% during the third quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after buying an additional 1,900 shares during the last quarter. Mosaic Family Wealth LLC boosted its position in shares of Applied Materials by 56.1% during the third quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after buying an additional 984 shares during the last quarter. Finally, Wunderlich Capital Managemnt boosted its position in shares of Applied Materials by 2.9% during the second quarter. Wunderlich Capital Managemnt now owns 3,037 shares of the manufacturing equipment provider’s stock valued at $125,000 after buying an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 78.58% of the company’s stock.

Applied Materials, Inc. (NASDAQ AMAT) opened at $49.77 on Tuesday. The stock has a market capitalization of $53,080.00, a PE ratio of 15.97, a price-to-earnings-growth ratio of 0.99 and a beta of 1.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43. Applied Materials, Inc. has a 12-month low of $31.21 and a 12-month high of $60.89.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.02. The business had revenue of $3.97 billion for the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a return on equity of 41.51% and a net margin of 23.62%. The business’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same period last year, the firm posted $0.66 earnings per share. equities analysts anticipate that Applied Materials, Inc. will post 3.96 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 12.62%.

In other news, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $58.00, for a total value of $290,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas F. Larkins sold 30,000 shares of the firm’s stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The disclosure for this sale can be found here. 0.31% of the stock is owned by company insiders.

AMAT has been the topic of several recent analyst reports. Credit Suisse Group reaffirmed a “buy” rating on shares of Applied Materials in a research report on Tuesday, August 29th. Goldman Sachs Group raised Applied Materials from a “neutral” rating to a “buy” rating and increased their price objective for the company from $49.00 to $52.00 in a research report on Wednesday, September 13th. Morgan Stanley reaffirmed an “overweight” rating on shares of Applied Materials in a research report on Thursday, September 14th. Bank of America increased their price objective on Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. Finally, B. Riley reaffirmed a “buy” rating and set a $63.00 price objective on shares of Applied Materials in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $60.99.

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Applied Materials Company Profile

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

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