Fortem Financial Group LLC Has $1.73 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Fortem Financial Group LLC raised its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 13.0% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,904 shares of the manufacturing equipment provider's stock after acquiring an additional 1,367 shares during the period. Fortem Financial Group LLC's holdings in Applied Materials were worth $1,727,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of AMAT. Callahan Advisors LLC grew its holdings in Applied Materials by 0.5% in the 1st quarter. Callahan Advisors LLC now owns 75,676 shares of the manufacturing equipment provider's stock valued at $10,982,000 after buying an additional 389 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of Applied Materials by 2.8% during the first quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock worth $369,000 after acquiring an additional 69 shares during the last quarter. Greater Midwest Financial Group LLC raised its position in shares of Applied Materials by 15.6% during the first quarter. Greater Midwest Financial Group LLC now owns 19,836 shares of the manufacturing equipment provider's stock worth $2,879,000 after acquiring an additional 2,675 shares during the last quarter. Diversify Wealth Management LLC raised its position in shares of Applied Materials by 9.2% during the first quarter. Diversify Wealth Management LLC now owns 5,044 shares of the manufacturing equipment provider's stock worth $754,000 after acquiring an additional 427 shares during the last quarter. Finally, Processus Wealth & Capital Management LLC grew its stake in Applied Materials by 2.7% during the first quarter. Processus Wealth & Capital Management LLC now owns 17,409 shares of the manufacturing equipment provider's stock worth $2,526,000 after purchasing an additional 456 shares during the period. Institutional investors own 80.56% of the company's stock.

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total transaction 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. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

Applied Materials Stock Down 0.1%

AMAT stock traded down $0.10 during trading hours on Friday, hitting $197.93. The company's stock had a trading volume of 4,423,891 shares, compared to its average volume of 7,109,438. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $158.84 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.69. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $248.81. The stock has a 50 day moving average price of $171.91 and a two-hundred day moving average price of $164.98.

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 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 net margin of 24.06% and a return on equity of 40.15%. The business's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. On average, equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's payout ratio is presently 22.38%.

Analysts Set New Price Targets

Several research analysts recently issued reports on AMAT shares. Barclays cut their target price on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Raymond James Financial restated an "outperform" rating and issued a $200.00 target price (down from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. TD Cowen reduced 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. Cantor Fitzgerald set a $220.00 target price on Applied Materials and gave the stock an "overweight" rating in a research report on Tuesday, June 24th. Finally, B. Riley cut their price objective on Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $203.65.

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.