Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. reduced its holdings in Applied Materials, Inc. by 9.8%, selling 83,528 shares, which now accounts for about 0.09% ownership valued at approximately $111.97 million.
• A quarterly dividend of $0.46 has been announced, with an annualized yield of 1.0% expected to be paid out to investors on September 11th.
• Research firms maintain a positive outlook, with analysts showing strong buying interest and setting consensus price targets averaging around $204.09 for Applied Materials' stock.

Russell Investments Group Ltd. cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 9.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 771,611 shares of the manufacturing equipment provider's stock after selling 83,528 shares during the period. Russell Investments Group Ltd. owned approximately 0.09% of Applied Materials worth $111,971,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Belpointe Asset Management LLC grew its position in shares of Applied Materials by 1.7% during the 4th quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider's stock valued at $607,000 after acquiring an additional 62 shares during the period. Old Port Advisors boosted its holdings in Applied Materials by 2.5% in the 1st quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider's stock worth $396,000 after buying an additional 66 shares during the last quarter. Silver Oak Securities Incorporated boosted its holdings in Applied Materials by 4.7% in the 1st quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider's stock worth $218,000 after buying an additional 68 shares during the last quarter. Cromwell Holdings LLC boosted its holdings in Applied Materials by 2.8% in the 1st quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock worth $369,000 after buying an additional 69 shares during the last quarter. Finally, TCTC Holdings LLC boosted its holdings in Applied Materials by 7.2% in the 1st quarter. TCTC Holdings LLC now owns 1,047 shares of the manufacturing equipment provider's stock worth $152,000 after buying an additional 70 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction that occurred 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 owned 5,300 shares in the company, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company's stock.

Applied Materials Stock Up 2.2%

AMAT stock opened at $188.45 on Wednesday. The firm has a market cap of $151.23 billion, a PE ratio of 22.93, a PEG ratio of 2.05 and a beta of 1.70. 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 firm's 50 day moving average price is $183.24 and its 200-day moving average price is $166.53. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the firm earned $2.09 EPS. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMAT. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price objective on shares of Applied Materials in a report on Friday, May 16th. Rothschild & Co Redburn cut Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price objective on the stock. in a report on Monday, July 7th. JPMorgan Chase & Co. lowered their price objective on Applied Materials from $240.00 to $210.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Cantor Fitzgerald set a $220.00 price objective on Applied Materials and gave the stock an "overweight" rating in a report on Tuesday, June 24th. Finally, Wells Fargo & Company lifted their price objective on Applied Materials from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently 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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