Pinnacle Wealth Management Advisory Group LLC Sells 150 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Pinnacle Wealth Management Advisory Group LLC decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,390 shares of the manufacturing equipment provider’s stock after selling 150 shares during the period. Pinnacle Wealth Management Advisory Group LLC’s holdings in Applied Materials were worth $768,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AMAT. Gleason Group Inc. increased its stake in shares of Applied Materials by 124.5% during the second quarter. Gleason Group Inc. now owns 229 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 127 shares during the period. Cypress Point Wealth Management LLC bought a new position in Applied Materials during the 2nd quarter worth $36,000. Syverson Strege & Co bought a new position in Applied Materials during the 1st quarter worth $39,000. Twin Lakes Capital Management LLC bought a new position in Applied Materials during the 1st quarter worth $40,000. Finally, Sargent Bickham Lagudis LLC increased its stake in Applied Materials by 190.5% during the 1st quarter. Sargent Bickham Lagudis LLC now owns 305 shares of the manufacturing equipment provider’s stock worth $41,000 after acquiring an additional 200 shares during the period. Institutional investors own 75.37% of the company’s stock.

In related news, SVP Omkaram Nalamasu sold 51,000 shares of the stock in a transaction dated Wednesday, June 30th. The shares were sold at an average price of $142.16, for a total value of $7,250,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Teri A. Little sold 13,500 shares of the stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $138.03, for a total transaction of $1,863,405.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,500 shares of company stock valued at $16,042,275. Company insiders own 0.37% of the company’s stock.

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their target price on Applied Materials from $139.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, August 20th. JPMorgan Chase & Co. lifted their price objective on Applied Materials from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 21st. Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $144.00 target price for the company in a research report on Tuesday, May 25th. Susquehanna downgraded Applied Materials from a “positive” rating to a “neutral” rating and cut their price target for the company from $170.00 to $160.00 in a research note on Tuesday. Finally, Mizuho boosted their target price on Applied Materials from $158.00 to $161.00 and gave the stock a “buy” rating in a research note on Friday, August 20th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of “Buy” and an average price target of $152.85.

AMAT opened at $140.14 on Wednesday. The stock has a market cap of $126.54 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 quick ratio of 2.17, a current ratio of 2.98 and a debt-to-equity ratio of 0.45. Applied Materials, Inc. has a 52 week low of $54.15 and a 52 week high of $146.00. The business’s fifty day simple moving average is $135.24 and its 200 day simple moving average is $132.11.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Wednesday, August 18th. The manufacturing equipment provider reported $1.90 EPS for the quarter, beating the Zacks’ consensus estimate of $1.77 by $0.13. The business had revenue of $6.20 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Applied Materials had a return on equity of 49.27% and a net margin of 24.54%. During the same quarter in the prior year, the firm earned $1.06 earnings per share. As a group, equities analysts anticipate that Applied Materials, Inc. will post 6.84 earnings per share for the current year.

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

Applied Materials Company 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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