Banco Santander S.A. Cuts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Banco Santander S.A. reduced its stake in Applied Materials, Inc. by 45.0%, now holding 87,636 shares valued at approximately $12.7 million following the sell-off of 71,580 shares.
• Applied Materials announced a quarterly dividend of $0.46 per share, with a yield of 1.0%, reflecting a payout ratio of 22.38%.
• The firm reported a 6.8% year-over-year revenue increase, with a quarterly earnings per share (EPS) of $2.39, surpassing the consensus estimate by $0.08.

Banco Santander S.A. lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 45.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,636 shares of the manufacturing equipment provider's stock after selling 71,580 shares during the period. Banco Santander S.A.'s holdings in Applied Materials were worth $12,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Belpointe Asset Management LLC grew its stake in Applied Materials by 1.7% in the fourth quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider's stock valued at $607,000 after purchasing an additional 62 shares during the last quarter. Old Port Advisors grew its stake in Applied Materials by 2.5% in the first quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider's stock valued at $396,000 after purchasing an additional 66 shares during the last quarter. Silver Oak Securities Incorporated grew its stake in Applied Materials by 4.7% in the first quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider's stock valued at $218,000 after purchasing an additional 68 shares during the last quarter. Cromwell Holdings LLC grew its stake in Applied Materials by 2.8% in the first quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock valued at $369,000 after purchasing an additional 69 shares during the last quarter. Finally, TCTC Holdings LLC grew its stake in Applied Materials by 7.2% in the first quarter. TCTC Holdings LLC now owns 1,047 shares of the manufacturing equipment provider's stock valued at $152,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Trading Down 0.0%

Shares of AMAT stock opened at $179.99 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The company has a market cap of $144.44 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.00 and a beta of 1.70. The stock has a 50 day simple moving average of $179.91 and a 200-day simple moving average of $166.99. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings results 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 analysts' expectations of $7.12 billion. During the same period in the previous year, the business earned $2.09 earnings per share. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. On average, equities research analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMAT. Wall Street Zen lowered Applied Materials from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Cantor Fitzgerald set a $220.00 price target on Applied Materials and gave the stock an "overweight" rating in a research note on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price target on Applied Materials from $240.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Barclays boosted their price target on Applied Materials from $160.00 to $170.00 and gave the stock an "equal weight" rating in a research note on Monday. Finally, Redburn Atlantic lowered Applied Materials from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $225.00 to $200.00 in a research note on Monday, July 7th. Nine 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 currently has a consensus rating of "Moderate Buy" and an average price target of $205.17.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the transaction, the chief accounting officer owned 5,300 shares of the company's stock, valued at approximately $946,580. This represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

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.

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