Audent Global Cuts Applied Materials Stake 50.6%, Retains $1.34M Position
Audent Global Asset Management sold 6,675 Applied Materials shares in Q3, cutting its stake by 50.6% to 6,523 shares worth $1.34 million. Meanwhile, Sagespring, Sunflower Bank, Outlook Wealth, Welch Group and Everpar Advisors modestly increased their Applied Materials positions by 0.5%–4% during the same quarter.
1. Institutional Stake Reduction by Audent Global Asset Management
In the third quarter, Audent Global Asset Management LLC sold 6,675 shares of Applied Materials, reducing its position by 50.6%. After the sale, Audent holds 6,523 shares, representing approximately 1.0% of its investment portfolio and ranking AMAT as its 25th largest holding. According to the firm’s latest SEC filing, the remaining stake is valued at $1.336 million.
2. Other Institutional Adjustments in Q3
Several additional asset managers made modest changes to their Applied Materials positions in Q3. Sagespring Wealth Partners LLC increased its stake by 0.5% to 8,340 shares (worth $1.707 million) with an additional 43 shares purchased. Sunflower Bank N.A. added 46 shares for a 1.4% boost to 3,287 shares ($673,000). Outlook Wealth Advisors LLC acquired 47 more shares, raising its total by 4.0% to 1,233 shares ($252,000). Welch Group LLC bought 50 more shares (+3.0%) to reach 1,741 shares ($356,000), while Everpar Advisors LLC added 51 shares (+1.5%) to hold 3,359 shares ($688,000). Hedge funds and other institutions now control 80.56% of the company’s stock.
3. Q3 Financial Results and Dividend Update
Applied Materials reported third-quarter revenue of $6.80 billion, surpassing analyst estimates by $120 million, though down 3.5% year-over-year. GAAP earnings per share were $2.17, beating the consensus by $0.06. The company delivered a net margin of 24.67% and a return on equity of 39.26%. Management set Q1 guidance at $1.98 to $2.38 EPS and sell-side analysts project full-year EPS of 9.38. The board declared a quarterly dividend of $0.46 per share (annualized $1.84), representing a 21.2% payout ratio, payable March 12 to shareholders of record on February 19.
4. Analyst Ratings and Insider Transactions
Twenty-four research analysts currently rate the stock a Buy and nine rate it a Hold, with a consensus price target of $298.14. Recent notes include an overweight rating from JPMorgan Chase (target $260), reiterated Buy from Goldman Sachs (target $310), and an overweight rating from Wells Fargo (target $350). Insiders have trimmed positions in the past 90 days: CAO Adam Sanders sold 609 shares for proceeds of $155,617 (a 12.13% reduction), and SVP Teri A. Little sold 4,000 shares for $952,960 (a 4.53% reduction). Collectively, insiders sold 8,609 shares worth $2.045 million and now hold 0.24% of outstanding shares.