Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.1% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,687,950 shares of the manufacturing equipment provider’s stock after selling 78,601 shares during the quarter. Wells Fargo & Company MN owned about 0.34% of Applied Materials worth $152,349,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. MCF Advisors LLC lifted its holdings in shares of Applied Materials by 0.3% during the first quarter. MCF Advisors LLC now owns 3,663 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 10 shares in the last quarter. Guardian Life Insurance Co. of America lifted its holdings in shares of Applied Materials by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 4,170 shares of the manufacturing equipment provider’s stock worth $162,000 after buying an additional 29 shares in the last quarter. Adirondack Trust Co. lifted its holdings in shares of Applied Materials by 1.1% during the second quarter. Adirondack Trust Co. now owns 3,650 shares of the manufacturing equipment provider’s stock worth $151,000 after buying an additional 40 shares in the last quarter. RMB Capital Management LLC lifted its holdings in shares of Applied Materials by 1.0% during the first quarter. RMB Capital Management LLC now owns 6,280 shares of the manufacturing equipment provider’s stock worth $244,000 after buying an additional 60 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. lifted its holdings in shares of Applied Materials by 0.5% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 20,921 shares of the manufacturing equipment provider’s stock worth $864,000 after buying an additional 97 shares in the last quarter. 79.67% of the stock is owned by institutional investors.

A number of research analysts recently commented on the company. UBS AG reaffirmed a “buy” rating and issued a $52.00 price target on shares of Applied Materials in a research note on Tuesday, June 13th. B. Riley reaffirmed a “buy” rating and issued a $56.00 price target on shares of Applied Materials in a research note on Saturday, May 20th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $48.16 price target for the company in a research note on Thursday, August 10th. Zacks Investment Research cut Applied Materials from a “buy” rating to a “hold” rating in a research report on Monday, August 14th. Finally, Credit Suisse Group lifted their target price on Applied Materials from $5.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, August 18th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $51.55.

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Shares of Applied Materials, Inc. (NASDAQ AMAT) traded up 0.19% during trading on Friday, reaching $47.14. The company’s stock had a trading volume of 13,880,440 shares. The stock has a market cap of $50.27 billion, a price-to-earnings ratio of 16.76 and a beta of 1.81. Applied Materials, Inc. has a 52-week low of $27.56 and a 52-week high of $47.86. The stock’s 50 day moving average price is $44.31 and its 200-day moving average price is $42.57.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.02. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post $3.20 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Wednesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 0.85%. Applied Materials’s dividend payout ratio (DPR) is currently 14.18%.

In related news, Director Alexander Karsner sold 22,762 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $44.03, for a total value of $1,002,210.86. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.31% of the stock is owned by corporate insiders.

About Applied Materials

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

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