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

Crestwood Advisors Group LLC cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,312 shares of the manufacturing equipment provider’s stock after selling 33,693 shares during the quarter. Applied Materials comprises 1.4% of Crestwood Advisors Group LLC’s investment portfolio, making the stock its 21st biggest position. Crestwood Advisors Group LLC’s holdings in Applied Materials were worth $72,802,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of AMAT. JT Stratford LLC boosted its position in shares of Applied Materials by 0.4% during the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock valued at $2,246,000 after acquiring an additional 48 shares during the last quarter. WASHINGTON TRUST Co boosted its holdings in Applied Materials by 3.3% in the 2nd quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock valued at $367,000 after purchasing an additional 49 shares during the last quarter. Optimum Investment Advisors grew its stake in shares of Applied Materials by 1.3% in the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock valued at $948,000 after buying an additional 50 shares during the period. SlateStone Wealth LLC increased its holdings in shares of Applied Materials by 4.7% during the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock worth $261,000 after buying an additional 50 shares during the last quarter. Finally, Forum Financial Management LP raised its position in shares of Applied Materials by 0.6% during the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT traded up $3.44 on Tuesday, reaching $185.26. 217,207 shares of the company were exchanged, compared to its average volume of 6,049,549. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 1-year low of $139.21 and a 1-year high of $255.89. The company has a 50-day moving average of $191.36 and a 200-day moving average of $207.54. The firm has a market cap of $152.73 billion, a price-to-earnings ratio of 20.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the company earned $1.90 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Applied Materials, Inc. will post 8.51 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued 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 (DPR) is currently 17.98%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMAT shares. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. Morgan Stanley decreased their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 17th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Tuesday, October 8th. Finally, B. Riley reduced their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Company Profile

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.