Legacy Private Trust Raised Its Abbvie (ABBV) Position by $658,240; Applied Materials (AMAT) Holder Sound Shore Management Has Trimmed Holding by $14.48 Million as Share Value Rose

January 21, 2018 - By Adrian Mccoy

Sound Shore Management Inc decreased its stake in Applied Materials (AMAT) by 8.23% based on its latest 2017Q3 regulatory filing with the SEC. Sound Shore Management Inc sold 278,526 shares as the company’s stock rose 23.58% with the market. The institutional investor held 3.11M shares of the technology company at the end of 2017Q3, valued at $161.76 million, down from 3.38 million at the end of the previous reported quarter. Sound Shore Management Inc who had been investing in Applied Materials for a number of months, seems to be less bullish one the $60.63 billion market cap company. It closed at $57.4 lastly. It is up 121.40% since January 21, 2017 and is uptrending. It has outperformed by 104.70% the S&P500.

Legacy Private Trust increased its stake in Abbvie Inc (ABBV) by 28.31% based on its latest 2017Q3 regulatory filing with the SEC. Legacy Private Trust bought 7,480 shares as the company’s stock rose 6.17% with the market. The institutional investor held 33,902 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $3.01 million, up from 26,422 at the end of the previous reported quarter. Legacy Private Trust who had been investing in Abbvie Inc for a number of months, seems to be bullish on the $167.05 billion market cap company. The stock increased 0.80% or $0.83 during the last trading session, reaching $104.64. About 4.99 million shares traded. AbbVie Inc. (NYSE:ABBV) has risen 10.63% since January 21, 2017 and is uptrending. It has underperformed by 6.07% the S&P500.

Among 21 analysts covering Abbvie Inc (NYSE:ABBV), 11 have Buy rating, 1 Sell and 9 Hold. Therefore 52% are positive. Abbvie Inc had 71 analyst reports since July 21, 2015 according to SRatingsIntel. The stock of AbbVie Inc. (NYSE:ABBV) earned “Hold” rating by Deutsche Bank on Thursday, September 28. The firm earned “Neutral” rating on Friday, October 13 by UBS. The stock of AbbVie Inc. (NYSE:ABBV) earned “Neutral” rating by Credit Suisse on Monday, October 31. The rating was maintained by UBS with “Buy” on Friday, October 23. The firm has “Equal-Weight” rating by Barclays Capital given on Friday, October 13. The rating was maintained by Piper Jaffray on Friday, September 15 with “Buy”. The rating was maintained by Jefferies on Friday, July 14 with “Buy”. Cowen & Co downgraded the shares of ABBV in report on Monday, June 6 to “Market Perform” rating. Cowen & Co upgraded the shares of ABBV in report on Wednesday, October 11 to “Outperform” rating. The rating was initiated by Societe Generale with “Sell” on Wednesday, April 6.

Legacy Private Trust, which manages about $821.55 million US Long portfolio, decreased its stake in Ssga Active Etf Tr (SRLN) by 72,863 shares to 132,760 shares, valued at $6.30M in 2017Q3, according to the filing. It also reduced its holding in Ishares Tr (IBMH) by 19,585 shares in the quarter, leaving it with 18,424 shares, and cut its stake in Cisco Sys Inc (NASDAQ:CSCO).

Since July 31, 2017, it had 0 insider buys, and 8 selling transactions for $45.57 million activity. The insider Michael Robert A. sold 6,699 shares worth $589,512. $1.66 million worth of AbbVie Inc. (NYSE:ABBV) was sold by Gosebruch Henry O. The insider SALEKI-GERHARDT AZITA sold 8,300 shares worth $705,655. On Monday, December 18 RICHMOND TIMOTHY J. sold $8.57M worth of AbbVie Inc. (NYSE:ABBV) or 87,040 shares. 145,510 shares were sold by Schumacher Laura J, worth $14.07 million.

Investors sentiment decreased to 0.85 in Q3 2017. Its down 0.15, from 1 in 2017Q2. It turned negative, as 55 investors sold ABBV shares while 640 reduced holdings. 132 funds opened positions while 462 raised stakes. 1.06 billion shares or 1.89% more from 1.04 billion shares in 2017Q2 were reported. 132,979 are held by Fort Washington Inv Oh. Cetera Ltd has invested 0.26% of its portfolio in AbbVie Inc. (NYSE:ABBV). Sit Inv Associate Inc reported 0.95% of its portfolio in AbbVie Inc. (NYSE:ABBV). Overbrook Mngmt stated it has 36,653 shares or 0.74% of all its holdings. Kentucky Retirement holds 0.66% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 97,723 shares. 169,578 are held by Seaward Lp. Athena Capital Ltd Limited Liability Company owns 0.05% invested in AbbVie Inc. (NYSE:ABBV) for 2,395 shares. Lakeview Cap Prtnrs Limited Liability holds 0.3% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 4,264 shares. Rhumbline Advisers has 0.47% invested in AbbVie Inc. (NYSE:ABBV). Obermeyer Wood Invest Counsel Lllp holds 0.05% of its portfolio in AbbVie Inc. (NYSE:ABBV) for 6,985 shares. Moreover, Aspen Invest Management Inc has 0.34% invested in AbbVie Inc. (NYSE:ABBV) for 5,210 shares. Fairview Management Limited Liability Com has 0.02% invested in AbbVie Inc. (NYSE:ABBV). Roundview Capital Llc owns 8,311 shares for 0.18% of their portfolio. Roosevelt Investment Grp Incorporated reported 41,808 shares or 0.34% of all its holdings. Financial Architects Inc accumulated 1,387 shares.

Among 28 analysts covering Applied Materials Inc. (NASDAQ:AMAT), 28 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Applied Materials Inc. had 109 analyst reports since August 4, 2015 according to SRatingsIntel. The stock of Applied Materials, Inc. (NASDAQ:AMAT) earned “Sector Perform” rating by RBC Capital Markets on Friday, August 14. The company was upgraded on Monday, October 26 by Nomura. The stock of Applied Materials, Inc. (NASDAQ:AMAT) earned “Underperform” rating by RBC Capital Markets on Monday, October 5. Susquehanna upgraded the stock to “Positive” rating in Tuesday, January 16 report. The firm has “Buy” rating given on Friday, February 19 by Needham. The firm has “Sector Perform” rating by RBC Capital Markets given on Thursday, February 16. The firm has “Buy” rating given on Friday, August 18 by Deutsche Bank. UBS maintained the shares of AMAT in report on Friday, August 19 with “Buy” rating. The firm has “Buy” rating by UBS given on Thursday, April 14. On Friday, February 19 the stock rating was maintained by Deutsche Bank with “Buy”.

Sound Shore Management Inc, which manages about $6.15B and $6.12B US Long portfolio, upped its stake in Bank Of America Corporatio (NYSE:BAC) by 1.09M shares to 10.12M shares, valued at $256.47 million in 2017Q3, according to the filing. It also increased its holding in Cbs Corporation (NYSE:CBS) by 603,157 shares in the quarter, for a total of 2.44M shares, and has risen its stake in The Goodyear Tire And Rubber Co (NASDAQ:GT).

Since August 23, 2017, it had 0 insider purchases, and 5 insider sales for $12.03 million activity. Karsner Alexander had sold 22,762 shares worth $1.00M. The insider Nalamasu Omkaram sold $2.83 million. Shares for $1.54M were sold by Larkins Thomas F on Thursday, October 5. 4,000 shares were sold by Forrest Stephen R, worth $214,680.

Analysts await Applied Materials, Inc. (NASDAQ:AMAT) to report earnings on February, 21. They expect $0.97 EPS, up 44.78% or $0.30 from last year’s $0.67 per share. AMAT’s profit will be $1.02 billion for 14.79 P/E if the $0.97 EPS becomes a reality. After $0.93 actual EPS reported by Applied Materials, Inc. for the previous quarter, Wall Street now forecasts 4.30% EPS growth.

Investors sentiment increased to 1.06 in Q3 2017. Its up 0.24, from 0.82 in 2017Q2. It improved, as 40 investors sold AMAT shares while 325 reduced holdings. 123 funds opened positions while 263 raised stakes. 811.15 million shares or 1.86% less from 826.54 million shares in 2017Q2 were reported. Atria Limited Liability Com holds 15,484 shares or 0.04% of its portfolio. Gotham Asset Ltd has invested 0.95% of its portfolio in Applied Materials, Inc. (NASDAQ:AMAT). Spirit Of America Mgmt Corporation has invested 0.11% in Applied Materials, Inc. (NASDAQ:AMAT). Windsor Cap Mgmt Limited Company owns 6,822 shares or 0.14% of their US portfolio. Roanoke Asset Mgmt Corporation Ny holds 83,280 shares. Private Advsrs holds 62,535 shares or 1.11% of its portfolio. Rafferty Asset Mngmt Ltd Liability Co invested in 0.3% or 252,983 shares. California-based Schwab Charles Inv has invested 0.19% in Applied Materials, Inc. (NASDAQ:AMAT). Bnp Paribas Arbitrage Sa reported 0.08% stake. Sol Capital Mgmt reported 0.13% in Applied Materials, Inc. (NASDAQ:AMAT). Ajo LP has invested 1.29% in Applied Materials, Inc. (NASDAQ:AMAT). Murphy Pohlad Asset Mngmt Limited Liability Company has 0.56% invested in Applied Materials, Inc. (NASDAQ:AMAT). Westover Capital Advisors Limited Liability Corporation holds 0.18% or 6,000 shares in its portfolio. Eqis Mgmt Inc accumulated 26,177 shares. Burke And Herbert National Bank & Trust And Tru accumulated 0.43% or 9,084 shares.

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