Blume Capital Management Inc. Cuts Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Blume Capital Management Inc. trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,555 shares of the manufacturing equipment provider’s stock after selling 2,780 shares during the period. Applied Materials comprises approximately 2.0% of Blume Capital Management Inc.’s portfolio, making the stock its 18th largest position. Blume Capital Management Inc.’s holdings in Applied Materials were worth $5,490,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AMAT. Whale Rock Capital Management LLC purchased a new stake in shares of Applied Materials during the first quarter worth about $403,729,000. Putnam Investments LLC raised its stake in Applied Materials by 219.1% in the first quarter. Putnam Investments LLC now owns 4,080,100 shares of the manufacturing equipment provider’s stock worth $545,101,000 after buying an additional 2,801,305 shares in the last quarter. Point72 Asset Management L.P. bought a new position in Applied Materials in the first quarter worth about $255,171,000. Menora Mivtachim Holdings LTD. bought a new position in Applied Materials in the first quarter worth about $223,426,000. Finally, UBS Asset Management Americas Inc. raised its stake in Applied Materials by 25.9% in the first quarter. UBS Asset Management Americas Inc. now owns 7,559,093 shares of the manufacturing equipment provider’s stock worth $1,009,895,000 after buying an additional 1,555,159 shares in the last quarter. Institutional investors own 75.37% of the company’s stock.

Shares of AMAT traded down $1.91 on Wednesday, hitting $138.23. 94,786 shares of the stock traded hands, compared to its average volume of 8,616,078. The company has a market capitalization of $124.81 billion, a PE ratio of 24.37, a P/E/G ratio of 1.03 and a beta of 1.44. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.17 and a current ratio of 2.98. The business has a 50 day simple moving average of $135.24 and a 200 day simple moving average of $132.11. Applied Materials, Inc. has a one year low of $54.15 and a one year high of $146.00.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Wednesday, August 18th. The manufacturing equipment provider reported $1.90 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.77 by $0.13. Applied Materials had a net margin of 24.54% and a return on equity of 49.27%. The company had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the company posted $1.06 earnings per share. On average, equities analysts expect that Applied Materials, Inc. will post 6.84 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Investors of record on Friday, November 26th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.69%. The ex-dividend date is Wednesday, November 24th. Applied Materials’s dividend payout ratio is currently 23.02%.

In other news, SVP Teri A. Little sold 13,500 shares of Applied Materials stock in a transaction on Friday, July 2nd. The shares were sold at an average price of $138.03, for a total transaction of $1,863,405.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Omkaram Nalamasu sold 51,000 shares of Applied Materials stock in a transaction on Wednesday, June 30th. The stock was sold at an average price of $142.16, for a total transaction of $7,250,160.00. The disclosure for this sale can be found here. Insiders sold 115,500 shares of company stock worth $16,042,275 in the last 90 days. 0.37% of the stock is currently owned by corporate insiders.

AMAT has been the subject of a number of research reports. JPMorgan Chase & Co. increased their price target on shares of Applied Materials from $146.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, May 21st. Mizuho increased their price target on shares of Applied Materials from $158.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday, August 20th. Daiwa Capital Markets initiated coverage on shares of Applied Materials in a research note on Thursday, August 19th. They issued an “outperform” rating and a $140.00 price target for the company. Susquehanna downgraded shares of Applied Materials from a “positive” rating to a “neutral” rating and decreased their price target for the stock from $170.00 to $160.00 in a research note on Tuesday. Finally, Susquehanna Bancshares downgraded shares of Applied Materials from a “positive” rating to a “neutral” rating and decreased their target price for the company from $170.00 to $160.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, Applied Materials presently has an average rating of “Buy” and a consensus price target of $152.85.

Applied Materials Profile

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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

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