Cohen Capital Management Inc. Has $31.79 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Cohen Capital Management Inc. raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 0.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 154,145 shares of the manufacturing equipment provider’s stock after purchasing an additional 762 shares during the quarter. Applied Materials accounts for about 5.6% of Cohen Capital Management Inc.’s holdings, making the stock its 2nd biggest holding. Cohen Capital Management Inc.’s holdings in Applied Materials were worth $31,789,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AMAT. Team Hewins LLC raised its position in shares of Applied Materials by 1.3% during the first quarter. Team Hewins LLC now owns 8,363 shares of the manufacturing equipment provider’s stock worth $1,725,000 after acquiring an additional 106 shares during the last quarter. Affinity Investment Advisors LLC raised its position in shares of Applied Materials by 30.1% during the first quarter. Affinity Investment Advisors LLC now owns 2,752 shares of the manufacturing equipment provider’s stock worth $568,000 after acquiring an additional 637 shares during the last quarter. Commonwealth Retirement Investments LLC raised its position in shares of Applied Materials by 0.7% during the first quarter. Commonwealth Retirement Investments LLC now owns 8,972 shares of the manufacturing equipment provider’s stock worth $1,850,000 after acquiring an additional 64 shares during the last quarter. Signaturefd LLC raised its position in shares of Applied Materials by 3.2% during the first quarter. Signaturefd LLC now owns 16,029 shares of the manufacturing equipment provider’s stock worth $3,306,000 after acquiring an additional 493 shares during the last quarter. Finally, Catalina Capital Group LLC bought a new position in shares of Applied Materials during the first quarter worth about $452,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Price Performance

AMAT traded down $13.71 during trading on Thursday, reaching $241.26. 5,623,853 shares of the company were exchanged, compared to its average volume of 5,687,539. The company’s 50-day moving average is $226.74 and its two-hundred day moving average is $200.84. The company has a market cap of $199.76 billion, a price-to-earnings ratio of 27.73, a P/E/G ratio of 3.22 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, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89.

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

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on AMAT shares. Raymond James raised their price objective on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. raised 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. B. Riley raised their target price on Applied Materials from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Evercore ISI initiated coverage on Applied Materials in a research note on Tuesday, April 16th. They set an “outperform” rating and a $260.00 target price for the company. Finally, Wells Fargo & Company raised their target price on Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average price target of $221.84.

Insider Buying and Selling

In related news, SVP Teri A. Little sold 2,500 shares of the stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $221.62, for a total transaction of $554,050.00. Following the sale, the senior vice president now owns 76,212 shares of the company’s stock, valued at approximately $16,890,103.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the transaction, the director now directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Teri A. Little sold 2,500 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $221.62, for a total value of $554,050.00. Following the transaction, the senior vice president now owns 76,212 shares in the company, valued at $16,890,103.44. The disclosure for this sale can be found here. In the last quarter, insiders have sold 89,827 shares of company stock valued at $21,382,560. Corporate insiders own 0.29% of the company’s stock.

Applied Materials Company 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.