Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Applied Materials by 1.5% in the first quarter, holding 4,442,777 shares valued at approximately $644.7 million.
• Several analysts have upgraded their price targets for Applied Materials, with Wells Fargo & Company raising its target from $200.00 to $215.00 and maintaining an "overweight" rating.
• Applied Materials recently announced a quarterly dividend of $0.46 per share, reflecting a dividend yield of 1.0% and a payout ratio of 22.38%.

American Century Companies Inc. lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 1.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,442,777 shares of the manufacturing equipment provider's stock after acquiring an additional 63,678 shares during the period. Applied Materials accounts for approximately 0.4% of American Century Companies Inc.'s investment portfolio, making the stock its 29th biggest holding. American Century Companies Inc. owned approximately 0.55% of Applied Materials worth $644,736,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Runnymede Capital Advisors Inc. increased its position in Applied Materials by 972.2% during the first 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 during the period. Smallwood Wealth Investment Management LLC acquired a new position in Applied Materials during the first quarter worth approximately $29,000. Clal Insurance Enterprises Holdings Ltd increased its position in Applied Materials by 435.0% during the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider's stock worth $31,000 after buying an additional 174 shares during the period. Mascagni Wealth Management Inc. acquired a new position in Applied Materials during the fourth quarter worth approximately $44,000. Finally, Costello Asset Management INC purchased a new position in shares of Applied Materials in the 1st quarter valued at approximately $44,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Wells Fargo & Company lifted their price target on Applied Materials from $200.00 to $215.00 and gave the company an "overweight" rating in a research note on Tuesday, July 8th. Raymond James Financial restated an "outperform" rating and issued a $200.00 price target (down from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Rothschild & Co Redburn downgraded Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target on the stock. in a research note on Monday, July 7th. The Goldman Sachs Group started coverage on Applied Materials in a research note on Thursday, July 10th. They issued a "buy" rating and a $225.00 price target on the stock. Finally, Citigroup boosted their target price on Applied Materials from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Applied Materials presently has an average rating of "Moderate Buy" and an average price target of $204.09.

Insider Buying and Selling at Applied Materials

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

Applied Materials Price Performance

AMAT stock opened at $188.24 on Friday. The stock has a 50-day moving average price of $184.28 and a two-hundred day moving average price of $166.78. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $215.70. 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 company has a market cap of $151.06 billion, a PE ratio of 22.90, a price-to-earnings-growth ratio of 2.12 and a beta of 1.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm had revenue of $7.30 billion during the quarter, compared to the consensus estimate of $7.21 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The firm's quarterly revenue was up 7.7% compared to the same quarter last year. As a group, research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 annualized dividend and a dividend yield of 1.0%. Applied Materials's dividend payout ratio is presently 22.38%.

About Applied Materials

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.

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