Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Cohen Capital Management Inc.

Cohen Capital Management Inc. reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,088 shares of the manufacturing equipment provider's stock after selling 7,297 shares during the period. Applied Materials makes up approximately 3.7% of Cohen Capital Management Inc.'s investment portfolio, making the stock its 5th biggest holding. Cohen Capital Management Inc.'s holdings in Applied Materials were worth $21,345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in AMAT. Belpointe Asset Management LLC increased its position in Applied Materials by 1.7% during the fourth quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider's stock worth $607,000 after acquiring an additional 62 shares during the period. Hills Bank & Trust Co increased its position in Applied Materials by 6.6% during the fourth quarter. Hills Bank & Trust Co now owns 1,061 shares of the manufacturing equipment provider's stock worth $173,000 after acquiring an additional 66 shares during the period. Silver Oak Securities Incorporated increased its position in Applied Materials by 4.7% during the first quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider's stock worth $218,000 after acquiring an additional 68 shares during the period. Cromwell Holdings LLC increased its position in 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 period. Finally, TCTC Holdings LLC increased its position in Applied Materials by 7.7% during the fourth quarter. TCTC Holdings LLC now owns 977 shares of the manufacturing equipment provider's stock worth $159,000 after acquiring an additional 70 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the company's 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 sale, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at $946,580. This represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Applied Materials Trading Down 1.2%

Applied Materials stock traded down $2.29 during trading hours on Thursday, reaching $192.52. 5,702,458 shares of the company's stock traded hands, compared to its average volume of 7,128,002. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $224.09. The firm has a market capitalization of $154.50 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.17 and a beta of 1.69. The firm's 50 day moving average is $175.19 and its 200-day moving average is $165.79.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly 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. The company had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. Applied Materials's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.09 EPS. On average, analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.96%. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Analysts Set New Price Targets

Several brokerages have issued reports on AMAT. Wells Fargo & Company boosted their price target on shares of Applied Materials from $200.00 to $215.00 and gave the company an "overweight" rating in a report on Tuesday, July 8th. Stifel Nicolaus lowered their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Barclays lowered their price target on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group raised shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target on the stock in a report on Friday, March 28th. Finally, Citigroup boosted their target price on shares of Applied Materials from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials has a consensus rating of "Moderate Buy" and an average price target of $204.74.

Applied Materials 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.