Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 5.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,552 shares of the manufacturing equipment provider's stock after buying an additional 1,410 shares during the quarter. Axxcess Wealth Management LLC's holdings in Applied Materials were worth $3,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Runnymede Capital Advisors Inc. lifted its stake in Applied Materials by 972.2% in the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock worth $28,000 after acquiring an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Applied Materials during the 1st quarter worth approximately $29,000. Mascagni Wealth Management Inc. purchased a new stake in Applied Materials in the 4th quarter valued at $44,000. Atala Financial Inc purchased a new stake in Applied Materials in the 4th quarter valued at $45,000. Finally, Minot DeBlois Advisors LLC purchased a new position in Applied Materials during the 4th quarter worth $46,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the company's stock in a transaction dated 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 transaction, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. This represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by company insiders.

Applied Materials Stock Up 0.2%

Shares of NASDAQ:AMAT opened at $195.39 on Thursday. 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 fifty day simple moving average of $170.07 and a 200 day simple moving average of $164.56. The firm has a market cap of $156.80 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 2.17 and a beta of 1.69. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $255.89.

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, topping analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the firm earned $2.09 earnings per share. The business's revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 0.94%. Applied Materials's dividend payout ratio (DPR) is 22.38%.

Wall Street Analyst Weigh In

A number of brokerages have commented on AMAT. Redburn Atlantic downgraded shares of Applied Materials from a "strong-buy" rating to a "hold" rating and cut their price objective for the stock from $225.00 to $200.00 in a research report on Monday. JPMorgan Chase & Co. cut their price target on shares of Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a report on Friday, May 16th. Jefferies Financial Group upgraded shares of 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. Cantor Fitzgerald set a $220.00 price target on shares of Applied Materials and gave the company an "overweight" rating in a report on Tuesday, June 24th. Finally, Bank of America cut their price target on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $202.65.

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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