Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Leuthold Group LLC

Leuthold Group LLC cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 16.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,714 shares of the manufacturing equipment provider’s stock after selling 14,927 shares during the quarter. Applied Materials accounts for 2.1% of Leuthold Group LLC’s holdings, making the stock its 7th largest holding. Leuthold Group LLC’s holdings in Applied Materials were worth $18,340,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Applied Materials in the second quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials in the second quarter valued at $28,000. Redmont Wealth Advisors LLC acquired a new position in Applied Materials during the 1st quarter worth $26,000. PSI Advisors LLC grew its stake in Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after purchasing an additional 56 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Applied Materials during the 1st quarter worth $35,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the transaction, the director now directly owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.29% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $186.14 on Thursday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The stock has a market cap of $154.12 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 2.21 and a beta of 1.55. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The stock’s 50 day moving average price is $200.27 and its 200 day moving average price is $210.38.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. Applied Materials’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 EPS. Equities research analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.86%. Applied Materials’s dividend payout ratio is 18.39%.

Analyst Ratings Changes

AMAT has been the subject of several analyst reports. B. Riley lowered their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Citigroup lowered their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday. Needham & Company LLC reissued a “buy” rating and set a $260.00 target price on shares of Applied Materials in a research note on Friday, August 16th. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Finally, Wells Fargo & Company upped their price objective on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research report on Monday, June 17th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.