Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.3% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 358,202 shares of the manufacturing equipment provider's stock after purchasing an additional 14,739 shares during the period. Commonwealth Equity Services LLC's holdings in Applied Materials were worth $51,982,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Runnymede Capital Advisors Inc. boosted its stake 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 acquiring an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in shares of Applied Materials during the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. purchased a new stake in shares of Applied Materials during the 4th quarter worth about $44,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Applied Materials during the 4th quarter worth about $46,000. Finally, Fiduciary Wealth Partners LLC purchased a new stake in shares of Applied Materials during the 1st quarter worth about $46,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction dated Tuesday, June 24th. The shares were 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 in the company, valued at $946,580. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.24% of the company's stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $182.82 on Tuesday. The company has a 50-day simple moving average of $180.42 and a 200-day simple moving average of $166.71. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $215.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. The stock has a market capitalization of $146.71 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.00 and a beta of 1.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating 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 analysts' expectations of $7.12 billion. During the same period in the prior year, the company earned $2.09 earnings per share. The business's revenue was up 6.8% compared to the same quarter last year. On average, analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a $0.46 dividend. 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 is presently 22.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company increased their target price on shares of Applied Materials from $200.00 to $215.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 8th. UBS Group raised their price target on shares of Applied Materials from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Monday. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price target on shares of Applied Materials in a research note on Friday, May 16th. The Goldman Sachs Group started coverage on shares of 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, Rothschild & Co Redburn lowered shares of 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. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Applied Materials has an average rating of "Moderate Buy" and a consensus target price of $204.09.

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.

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