Lifeworks Advisors LLC Purchases 1,882 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Lifeworks Advisors LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 15.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 13,945 shares of the manufacturing equipment provider's stock after acquiring an additional 1,882 shares during the period. Lifeworks Advisors LLC's holdings in Applied Materials were worth $2,024,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Runnymede Capital Advisors Inc. raised its position in 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 purchasing an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in Applied Materials during the 1st quarter worth $29,000. Mascagni Wealth Management Inc. bought a new position in Applied Materials during the 4th quarter worth $44,000. Minot DeBlois Advisors LLC bought a new position in Applied Materials during the 4th quarter worth $46,000. Finally, Park Square Financial Group LLC acquired a new stake in Applied Materials during the 4th quarter worth about $55,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Performance

Shares of Applied Materials stock traded up $1.11 during mid-day trading on Thursday, hitting $188.12. 4,805,343 shares of the stock were exchanged, compared to its average volume of 6,180,138. The company has a 50-day simple moving average of $177.19 and a 200 day simple moving average of $166.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $215.70. The company has a market capitalization of $150.97 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.08 and a beta of 1.69.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its 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 business had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.09 EPS. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio is presently 22.38%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMAT shares. Wall Street Zen downgraded Applied Materials from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target for the company in a report on Friday, March 28th. Bank of America decreased their price target on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Raymond James Financial reiterated an "outperform" rating and set a $200.00 price target (down from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Finally, Cantor Fitzgerald set a $220.00 price target on Applied Materials and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $204.74.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the sale, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at $946,580. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

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.