Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Capital Asset Advisory Services LLC

Capital Asset Advisory Services LLC boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 16.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,303 shares of the manufacturing equipment provider’s stock after buying an additional 1,918 shares during the period. Capital Asset Advisory Services LLC’s holdings in Applied Materials were worth $2,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in AMAT. Operose Advisors LLC purchased a new stake in Applied Materials during the 3rd quarter valued at about $69,000. O Shaughnessy Asset Management LLC grew its stake in Applied Materials by 19.5% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 51,346 shares of the manufacturing equipment provider’s stock valued at $7,109,000 after purchasing an additional 8,371 shares during the last quarter. Mutual Advisors LLC grew its stake in Applied Materials by 10.2% during the 3rd quarter. Mutual Advisors LLC now owns 6,999 shares of the manufacturing equipment provider’s stock valued at $969,000 after purchasing an additional 648 shares during the last quarter. Trustmark National Bank Trust Department purchased a new stake in Applied Materials during the 3rd quarter valued at about $1,183,000. Finally, Rench Wealth Management Inc. grew its stake in Applied Materials by 2.4% during the 3rd quarter. Rench Wealth Management Inc. now owns 29,875 shares of the manufacturing equipment provider’s stock valued at $4,136,000 after purchasing an additional 708 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the completion of the sale, the director now owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the sale, the director now directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Brice Hill sold 20,000 shares of the stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the transaction, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 89,827 shares of company stock valued at $21,382,560. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on AMAT shares. Susquehanna boosted their price target on Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 16th. Raymond James upped their target price on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. upped their target price on Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Stifel Nicolaus restated a “buy” rating and issued a $230.00 target price on shares of Applied Materials in a research note on Wednesday, May 15th. Finally, UBS Group upped their target price on Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 5th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.84.

Applied Materials Price Performance

Shares of Applied Materials stock traded up $3.46 during mid-day trading on Friday, reaching $235.99. 6,386,931 shares of the stock traded hands, compared to its average volume of 5,787,150. The business has a 50-day moving average of $216.53 and a 200 day moving average of $194.73. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $249.42. The stock has a market capitalization of $195.39 billion, a PE ratio of 27.47, a PEG ratio of 3.04 and a beta of 1.56. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter last year, the firm earned $2.00 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.68%. Applied Materials’s dividend payout ratio is presently 18.39%.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.