Avity Investment Management Inc. Boosts Holdings in Applied Materials, Inc.
Avity Investment Management Inc. has increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% in the third quarter, according to the company’s most recent filing with the Securities & Exchange Commission.
The institutional investor owned 223,211 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,376 shares during the quarter. Applied Materials accounts for 3.2% of Avity Investment Management Inc.’s portfolio, making the stock its 10th largest position.
Avity Investment Management Inc.’s holdings in Applied Materials were worth $45,700,000 as of its most recent SEC filing.
Other Institutional Investors Also Boost Holdings
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Sagespring Wealth Partners LLC boosted its stake in shares of Applied Materials by 0.5% during the 3rd quarter. Sagespring Wealth Partners LLC now owns 8,340 shares of the manufacturing equipment provider’s stock valued at $1,707,000 after buying an additional 43 shares during the last quarter.
REAP Financial Group LLC increased its stake in shares of Applied Materials by 7.0% in the third quarter. REAP Financial Group LLC now owns 657 shares of the manufacturing equipment provider’s stock worth $135,000 after buying an additional 43 shares during the last quarter.
Sunflower Bank N.A. raised its holdings in Applied Materials by 1.4% in the third quarter. Sunflower Bank N.A. now owns 3,287 shares of the manufacturing equipment provider’s stock valued at $673,000 after acquiring an additional 46 shares in the last quarter.
Outlook Wealth Advisors LLC raised its holdings in Applied Materials by 4.0% in the third quarter. Outlook Wealth Advisors LLC now owns 1,233 shares of the manufacturing equipment provider’s stock valued at $252,000 after acquiring an additional 47 shares in the last quarter.
Welch Group LLC boosted its stake in Applied Materials by 3.0% during the 3rd quarter. Welch Group LLC now owns 1,741 shares of the manufacturing equipment provider’s stock valued at $356,000 after acquiring an additional 50 shares during the last quarter.
Insider Activity at Applied Materials
In related news, CFO Brice Hill sold 5,000 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $361.21, for a total value of $1,806,050.00.
Following the completion of the transaction, the chief financial officer owned 138,565 shares in the company, valued at $50,051,063.65. This represents a 3.48% decrease in their position.
The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Judy Bruner sold 2,500 shares of the firm’s stock in a transaction dated Wednesday, February 25th.
The shares were sold at an average price of $391.71, for a total transaction of $979,275.00. Following the transaction, the director directly owned 26,089 shares in the company, valued at approximately $10,219,322.19.
The trade was a 8.74% decrease in their position. The SEC filing for this sale provides additional information.
Applied Materials Stock Performance
Shares of NASDAQ AMAT opened at $352.46 on Wednesday. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $395.95.
The company has a market cap of $279.72 billion, a PE ratio of 36.08, a P/E/G ratio of 1.56 and a beta of 1.65. The stock has a 50 day simple moving average of $336.85 and a 200-day simple moving average of $265.80.
The company has a current ratio of 2.71, a quick ratio of 1.94 and a debt-to-equity ratio of 0.30.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on the stock. Barclays boosted their target price on shares of Applied Materials from $360.00 to $450.00 and gave the stock an ‘overweight’ rating in a research report on Friday, February 13th.
Stifel Nicolaus increased their price target on shares of Applied Materials from $340.00 to $450.00 and gave the stock a ‘buy’ rating in a research report on Friday, February 13th.
Morgan Stanley boosted their price objective on Applied Materials from $420.00 to $432.00 and gave the company an ‘overweight’ rating in a report on Wednesday, February 25th.
Susquehanna upgraded Applied Materials from a ‘neutral’ rating to a ‘positive’ rating and upped their price objective for the company from $180.00 to $400.00 in a research note on Sunday, January 11th.
Weiss Ratings raised Applied Materials from a ‘hold (c+)’ rating to a ‘buy (b-)’ rating in a report on Monday, December 29th.
One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and seven have issued a Hold rating to the company.
Based on data from MarketBeat.com, Applied Materials has an average rating of ‘Moderate Buy’ and a consensus price target of $363.46.
