Zions Bancorporation National Association UT Makes New $435,000 Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Zions Bancorporation National Association UT acquired 2,997 shares of Applied Materials, valued at approximately $435,000, marking a new position for the institution in the first quarter.
• Institutional investors and hedge funds collectively own 80.56% of Applied Materials' stock, indicating strong institutional confidence in the company.
• Applied Materials announced a quarterly dividend of $0.46, set to be paid on September 11th, with an annualized dividend yield of 1.0%.

Zions Bancorporation National Association UT bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,997 shares of the manufacturing equipment provider's stock, valued at approximately $435,000.

Other institutional investors have also added to or reduced their stakes in the company. Runnymede Capital Advisors Inc. boosted its holdings in shares of Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock worth $28,000 after buying an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of Applied Materials during the first quarter worth approximately $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Applied Materials during the fourth quarter worth approximately $44,000. Minot DeBlois Advisors LLC acquired a new position in shares of Applied Materials during the fourth quarter worth approximately $46,000. Finally, Costello Asset Management INC acquired a new position in shares of Applied Materials during the first quarter worth approximately $44,000. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AMAT. Rothschild & Co Redburn lowered Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a research report on Monday, July 7th. Cantor Fitzgerald set a $220.00 price target on Applied Materials and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Stifel Nicolaus lowered their price target on Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. TD Cowen lowered their price target on Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Finally, Barclays raised their target price on Applied Materials from $160.00 to $170.00 and gave the company an "equal weight" rating in a research report on Monday, July 28th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and a consensus target price of $204.09.

Applied Materials Price Performance

Shares of AMAT traded up $4.07 during trading hours on Tuesday, reaching $188.45. 5,914,939 shares of the company's stock traded hands, compared to its average volume of 6,113,435. The stock has a market cap of $151.23 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.70. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The firm's 50 day simple moving average is $182.71 and its 200-day simple moving average is $166.37. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the company posted $2.09 EPS. Equities analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is currently 22.38%.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the transaction, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.24% of the company's stock.

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.