Audent Global Asset Management LLC Sells 17,921 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Audent Global Asset Management LLC decreased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 57.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,234 shares of the manufacturing equipment provider's stock after selling 17,921 shares during the quarter. Applied Materials comprises about 1.6% of Audent Global Asset Management LLC's portfolio, making the stock its 22nd biggest holding. Audent Global Asset Management LLC's holdings in Applied Materials were worth $1,921,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in AMAT. Runnymede Capital Advisors Inc. raised 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 valued at $28,000 after buying an additional 175 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in Applied Materials in the 1st quarter valued at $29,000. Mascagni Wealth Management Inc. bought a new stake in Applied Materials in the 4th quarter valued at $44,000. Atala Financial Inc acquired a new stake in Applied Materials during the 4th quarter valued at $45,000. Finally, Minot DeBlois Advisors LLC bought a new position in Applied Materials during the fourth quarter worth $46,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Stock Up 0.4%

Applied Materials stock traded up $0.85 during midday trading on Friday, reaching $190.86. The stock had a trading volume of 3,568,536 shares, compared to its average volume of 7,077,976. The company has a fifty day moving average price of $166.69 and a two-hundred day moving average price of $163.80. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. 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 market capitalization of $153.17 billion, a P/E ratio of 23.22, a PEG ratio of 2.12 and a beta of 1.69.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the business posted $2.09 earnings per share. The company's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, equities analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its Board of Directors has authorized a share repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Applied Materials Announces Dividend

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 paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Thursday, August 21st. Applied Materials's payout ratio is 22.38%.

Insider Buying and Selling

In other 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 value of $100,373.20. Following the sale, the chief accounting officer owned 5,300 shares of the company's stock, valued at $946,580. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AMAT. Jefferies Financial Group raised shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price objective on the stock in a research report on Friday, March 28th. Stifel Nicolaus decreased their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley raised their price objective on shares of Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, TD Cowen cut their price objective on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Applied Materials currently has a consensus rating of "Moderate Buy" and a consensus target price of $200.76.

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.