Octavia Wealth Advisors LLC Has $637,000 Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Financial News Live · Sep 25, 2022 21:11

Octavia Wealth Advisors LLC reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 4.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,994 shares of the manufacturing equipment provider's stock after selling 326 shares during the quarter. Octavia Wealth Advisors LLC's holdings in Applied Materials were worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AMAT. ETF Managers Group LLC lifted its stake in Applied Materials by 5.0% in the fourth quarter. ETF Managers Group LLC now owns 5,126 shares of the manufacturing equipment provider's stock valued at $810,000 after buying an additional 243 shares during the period. LPL Financial LLC lifted its stake in Applied Materials by 7.3% in the fourth quarter. LPL Financial LLC now owns 300,605 shares of the manufacturing equipment provider's stock valued at $47,303,000 after buying an additional 20,540 shares during the period. Continuum Advisory LLC lifted its stake in Applied Materials by 24.3% in the fourth quarter. Continuum Advisory LLC now owns 5,344 shares of the manufacturing equipment provider's stock valued at $841,000 after buying an additional 1,045 shares during the period. Journey Strategic Wealth LLC acquired a new position in Applied Materials in the fourth quarter valued at approximately $334,000. Finally, Wahed Invest LLC acquired a new position in Applied Materials in the fourth quarter valued at approximately $1,655,000. 74.99% of the stock is owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, SVP Teri A. Little sold 15,000 shares of the stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $86.30, for a total transaction of $1,294,500.00. Following the sale, the senior vice president now owns 93,169 shares of the company's stock, valued at approximately $8,040,484.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Applied Materials from $120.00 to $125.00 and gave the company an "overweight" rating in a research note on Friday, August 19th. DA Davidson lowered their target price on Applied Materials from $170.00 to $155.00 and set a "buy" rating on the stock in a research report on Friday, August 19th. Mizuho lowered their target price on Applied Materials from $160.00 to $150.00 and set a "buy" rating on the stock in a research report on Friday, August 19th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $109.00 target price (up from $95.00) on shares of Applied Materials in a research report on Tuesday, August 30th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Applied Materials from $110.00 to $115.00 in a research report on Friday, August 19th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $142.38.

Applied Materials Stock Down 0.9 %

Shares of NASDAQ AMAT opened at $84.29 on Friday. Applied Materials, Inc. has a one year low of $82.67 and a one year high of $167.06. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.26 and a quick ratio of 1.45. The business's fifty day moving average price is $98.99 and its 200-day moving average price is $107.16. The stock has a market capitalization of $72.52 billion, a PE ratio of 11.27, a P/E/G ratio of 1.48 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT – Get Rating) last issued its quarterly earnings results on Thursday, August 18th. The manufacturing equipment provider reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.78 by $0.16. Applied Materials had a return on equity of 56.68% and a net margin of 26.42%. The firm had revenue of $6.52 billion for the quarter, compared to analysts' expectations of $6.27 billion. During the same quarter in the prior year, the firm earned $1.90 EPS. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Materials, Inc. will post 7.68 EPS for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.04 dividend on an annualized basis and a yield of 1.23%. Applied Materials's dividend payout ratio (DPR) is 13.90%.

Applied Materials Profile

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Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.