As Applied Matls Com (AMAT) Share Price Rose, Holder Baker Avenue Asset Management LP Has Cut Holding by $592,778; Sumitomo Life Insurance Company Has Upped Holding in Best Buy Com (BBY) by $1.08 Million

November 15, 2017 - By Adrian Erickson

Baker Avenue Asset Management Lp decreased its stake in Applied Matls Inc Com (AMAT) by 4.22% based on its latest 2017Q2 regulatory filing with the SEC. Baker Avenue Asset Management Lp sold 14,458 shares as the company’s stock rose 23.58% with the market. The institutional investor held 328,263 shares of the technology company at the end of 2017Q2, valued at $13.56 million, down from 342,721 at the end of the previous reported quarter. Baker Avenue Asset Management Lp who had been investing in Applied Matls Inc Com for a number of months, seems to be less bullish one the $60.17B market cap company. The stock decreased 1.07% or $0.61 during the last trading session, reaching $56.42. About 752 shares traded. Applied Materials, Inc. (NASDAQ:AMAT) has risen 121.40% since November 15, 2016 and is uptrending. It has outperformed by 104.70% the S&P500.

Sumitomo Life Insurance Company increased its stake in Best Buy Inc Com (BBY) by 260.15% based on its latest 2017Q2 regulatory filing with the SEC. Sumitomo Life Insurance Company bought 18,978 shares as the company’s stock rose 13.46% with the market. The institutional investor held 26,273 shares of the consumer services company at the end of 2017Q2, valued at $1.51 million, up from 7,295 at the end of the previous reported quarter. Sumitomo Life Insurance Company who had been investing in Best Buy Inc Com for a number of months, seems to be bullish on the $17.11 billion market cap company. The stock increased 0.40% or $0.23 during the last trading session, reaching $57.2. About 100 shares traded. Best Buy Co Inc (NYSE:BBY) has risen 62.80% since November 15, 2016 and is uptrending. It has outperformed by 46.10% the S&P500.

Sumitomo Life Insurance Company, which manages about $766.68 million US Long portfolio, decreased its stake in Citigroup Inc Com (NYSE:C) by 7,853 shares to 87,229 shares, valued at $5.83 million in 2017Q2, according to the filing. It also reduced its holding in Goldman Sachs Group Inc Com (NYSE:GS) by 5,359 shares in the quarter, leaving it with 9,660 shares, and cut its stake in Merck & Co Inc New Com (NYSE:MRK).

Investors sentiment decreased to 0.79 in Q2 2017. Its down 0.22, from 1.01 in 2017Q1. It dived, as 43 investors sold BBY shares while 213 reduced holdings. 88 funds opened positions while 113 raised stakes. 253.45 million shares or 5.82% less from 269.11 million shares in 2017Q1 were reported. Fiera Capital holds 3,997 shares or 0% of its portfolio. Spectrum Mngmt Grp reported 21,515 shares. Pdts Prtn Ltd Liability accumulated 196,910 shares or 0.45% of the stock. Swiss Natl Bank has invested 0.07% in Best Buy Co Inc (NYSE:BBY). Ahl Prtnrs Llp invested in 69,866 shares or 0.09% of the stock. Legacy Private Trust holds 0.3% or 41,507 shares in its portfolio. Stifel Finance reported 0.02% of its portfolio in Best Buy Co Inc (NYSE:BBY). Brown Advisory Secs Llc owns 0.09% invested in Best Buy Co Inc (NYSE:BBY) for 7,193 shares. Citigroup Incorporated has 0.01% invested in Best Buy Co Inc (NYSE:BBY). Veritable Limited Partnership owns 5,021 shares for 0.01% of their portfolio. Assetmark has 0.01% invested in Best Buy Co Inc (NYSE:BBY) for 18,974 shares. Evercore Wealth Management Lc invested 0% in Best Buy Co Inc (NYSE:BBY). Strs Ohio holds 0.01% or 43,788 shares in its portfolio. Bancorp Of America De holds 1.21 million shares. Ajo Lp has invested 0.07% in Best Buy Co Inc (NYSE:BBY).

Since May 23, 2017, it had 0 insider purchases, and 9 sales for $11.82 million activity. Watson Mathew also sold $880,344 worth of Best Buy Co Inc (NYSE:BBY) on Friday, May 26. $597,091 worth of Best Buy Co Inc (NYSE:BBY) shares were sold by Walker Patricia H. Ballard Shari L sold $892,262 worth of stock. Another trade for 63,631 shares valued at $3.82 million was made by MOHAN RAJENDRA M on Thursday, May 25. Nelsen Keith J sold $3.25 million worth of stock.

More recent Best Buy Co Inc (NYSE:BBY) news were published by: Nasdaq.com which released: “Best Buy (BBY) Q3 Earnings to Gain From Online Sales Surge” on November 14, 2017. Also Benzinga.com published the news titled: “Upcoming Earnings: Target And Wal-Mart Take The Stage This Week” on November 14, 2017. Bloomberg.com‘s news article titled: “Best Buy Stops Some Sales of New iPhones After Pricing Backlash” with publication date: October 31, 2017 was also an interesting one.

Among 26 analysts covering Best Buy Co (NYSE:BBY), 11 have Buy rating, 3 Sell and 12 Hold. Therefore 42% are positive. Best Buy Co had 89 analyst reports since August 10, 2015 according to SRatingsIntel. The rating was maintained by Loop Capital with “Buy” on Wednesday, April 5. The firm has “Hold” rating by RBC Capital Markets given on Thursday, May 25. The rating was maintained by Loop Capital Markets with “Buy” on Wednesday, August 16. The stock of Best Buy Co Inc (NYSE:BBY) earned “Neutral” rating by Longbow on Thursday, June 16. The firm earned “Buy” rating on Monday, October 16 by SunTrust. The firm has “Hold” rating given on Tuesday, September 19 by KeyBanc Capital Markets. As per Wednesday, December 7, the company rating was initiated by Loop Capital. The rating was maintained by RBC Capital Markets with “Sector Perform” on Thursday, March 2. The rating was downgraded by Evercore to “Sell” on Tuesday, November 8. The firm earned “Overweight” rating on Monday, March 27 by PiperJaffray.

Among 25 analysts covering Applied Materials Inc. (NASDAQ:AMAT), 24 have Buy rating, 0 Sell and 1 Hold. Therefore 96% are positive. Applied Materials Inc. had 97 analyst reports since August 4, 2015 according to SRatingsIntel. RBC Capital Markets maintained Applied Materials, Inc. (NASDAQ:AMAT) rating on Thursday, June 29. RBC Capital Markets has “Hold” rating and $4600 target. The firm earned “Buy” rating on Friday, August 18 by Craig Hallum. The rating was upgraded by BNP Paribas to “Outperform” on Thursday, March 31. B. Riley & Co maintained Applied Materials, Inc. (NASDAQ:AMAT) rating on Friday, February 19. B. Riley & Co has “Neutral” rating and $19.50 target. The firm has “Buy” rating by KeyBanc Capital Markets given on Wednesday, September 27. The rating was upgraded by Credit Agricole on Tuesday, January 19 to “Buy”. As per Wednesday, September 13, the company rating was upgraded by Goldman Sachs. The firm has “Buy” rating given on Friday, May 20 by UBS. The firm has “Sell” rating given on Thursday, August 13 by Zacks. Stifel Nicolaus maintained the stock with “Buy” rating in Friday, May 27 report.

Investors sentiment decreased to 0.82 in Q2 2017. Its down 0.33, from 1.15 in 2017Q1. It worsened, as 48 investors sold AMAT shares while 346 reduced holdings. 105 funds opened positions while 219 raised stakes. 826.54 million shares or 0.80% less from 833.19 million shares in 2017Q1 were reported. Bahl Gaynor Incorporated accumulated 7,515 shares. Brown Brothers Harriman & Co has invested 0% in Applied Materials, Inc. (NASDAQ:AMAT). Atlantic Tru Group Lc holds 43,288 shares or 0.01% of its portfolio. Tudor Invest Corp Et Al owns 0.06% invested in Applied Materials, Inc. (NASDAQ:AMAT) for 47,292 shares. Bb&T holds 10,297 shares or 0.01% of its portfolio. Qci Asset Mngmt Inc holds 0% of its portfolio in Applied Materials, Inc. (NASDAQ:AMAT) for 370 shares. Natl Pension Serv has invested 0.23% in Applied Materials, Inc. (NASDAQ:AMAT). Carroll Associates Inc has invested 0.38% in Applied Materials, Inc. (NASDAQ:AMAT). Mason Street Llc invested in 0.15% or 149,147 shares. Group One Trading Lp reported 0.01% stake. Bridgeway Capital Management accumulated 1.69 million shares. Strs Ohio invested in 0.11% or 594,274 shares. Bankshares Of The Ozarks stated it has 0.7% of its portfolio in Applied Materials, Inc. (NASDAQ:AMAT). Whitnell Commerce, a Illinois-based fund reported 5,188 shares. Commerzbank Aktiengesellschaft Fi owns 0.18% invested in Applied Materials, Inc. (NASDAQ:AMAT) for 265,499 shares.

Baker Avenue Asset Management Lp, which manages about $1.13B and $753.24M US Long portfolio, upped its stake in Red Hat Inc Com (NYSE:RHT) by 5,419 shares to 23,805 shares, valued at $2.28M in 2017Q2, according to the filing. It also increased its holding in Goldman Sachs Group Inc Com (NYSE:GS) by 2,358 shares in the quarter, for a total of 18,214 shares, and has risen its stake in Qualcomm Inc Com (NASDAQ:QCOM).

More notable recent Applied Materials, Inc. (NASDAQ:AMAT) news were published by: Seekingalpha.com which released: “Appaloosa’s portfolio updates include tech movers” on November 14, 2017, also Seekingalpha.com with their article: “Stock Exchange: Pullback Fear? Consider Uncorrelated Stocks” published on November 03, 2017, Nasdaq.com published: “De Burlo Group Inc Buys Applied Materials Inc, American Tower Corp, Netflix …” on November 02, 2017. More interesting news about Applied Materials, Inc. (NASDAQ:AMAT) were released by: Globenewswire.com and their article: “Applied Materials to Hold Q4 & FY2017 Earnings Webcast on November 16, 2017 at …” published on November 03, 2017 as well as Nasdaq.com‘s news article titled: “See Which Of The Latest 13F Filers Holds Applied Materials” with publication date: November 14, 2017.

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