Ascent Wealth Partners 13F: Cuts AMAT Stake by $8M

Ascent Wealth Partners reduced its position in Applied Materials, Inc. (NasdaqGS: AMAT) by 15,606 shares during the quarter, according to a Form 13F filing on October 23, 2026. The stock closed at $377.24 on the day of the filing.

AMAT Applied Materials, Inc.

$377.24 ▲ +40.80% year to date

1M 3M YTD

Daily close · Oct 23, 2026

What Changed in Ascent Wealth Partners's Applied Materials Position

The firm cut its stake by 31.8%, leaving it with 33,525 shares of the semiconductor equipment maker. That block of shares had an estimated value of $17,144,015 at the time of the report, down from its previous holding of 49,131 shares.

Other Institutional Activity in Applied Materials

Other institutional investors also adjusted their positions in Applied Materials around the same time. Midwest Trust trimmed its holdings by 6,784 shares, ending with 88,978 shares worth about $45.5 million. AMF Tjanstepension picked up a new position of 6,638 shares valued at about $3.4 million. Carnegie Investment Counsel reduced its stake by 3,613 shares to hold 108,067 shares worth roughly $55.3 million. BSN CAPITAL PARTNERS grew its holdings by 93,000 shares, ending with 143,000 shares worth about $67.8 million.

Applied Materials, Inc. Stock Down 7.1%

Applied Materials recently traded around $380.06 as of October 24, 2026, up about 0.7% from its event close of $377.24. The stock trades below its 50-day moving average of $471.56 and sits below its 52-week high of $739.67.

Recent Earnings

Applied Materials generated trailing-twelve-month revenue of $30.8 billion alongside a net profit margin of 30.1%. The company reported trailing-twelve-month earnings of $11.59 per share and a return on equity of 41.1%. Its next earnings report is scheduled for November 12, 2026.

Dividend

The company pays an annual dividend rate of $2.12 per share, which translates to a dividend yield of 0.56% based on a dividend payout ratio of 16.5%.

Insider Buying and Selling at Applied Materials, Inc.

Company insiders executed several transactions prior to the filing. Chief Executive Officer Gary E. Dickerson disposed of 78,321 shares on June 30, 2026, for a total value of $55.5 million. Chief Financial Officer Brice Hill sold 7,500 shares on August 25, 2026, at an average price of $479.25, totaling $3.5 million. Director Judy Bruner parted with 1,000 shares on September 8, 2026, at $465.00 per share for $465,000. Officer Adam Sanders sold 725 shares on October 2, 2026, at $544.56 per share for $394,807.

Analysts Set New Price Targets

Financial firms updated their views on Applied Materials through September and October. UBS maintained its buy rating on September 1, raising its price target from $675 to $695. Morgan Stanley maintained an equal-weight rating on September 28 while lowering its target from $642 to $563. RBC Capital reiterated an outperform rating with a $600 target on October 14. Evercore ISI Group maintained an outperform rating on October 15, reducing its target from $700 to $590. Needham kept a buy rating on October 16, moving its target from $740 down to $580. Overall, the stock carries a consensus strong buy rating and a mean price target of $627.83 across 36 analyst opinions.

About Applied Materials

Based in Santa Clara, California, Applied Materials builds specialized equipment, software, and services used to manufacture semiconductors. Its technology supports chipmakers around the world as they produce advanced processors and memory chips. The firm operates through divisions focused on semiconductor systems and global support services.

Bottom Line

Investors will watch for the company's upcoming earnings report on November 12, 2026, to gauge demand for semiconductor manufacturing equipment. Future regulatory filings will show whether other major funds follow Ascent Wealth Partners in adjusting their holdings.