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Benjamin Edwards Inc. Has $3.12 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Applied Materials logo with Computer and Technology background

Key Points

  • Benjamin Edwards Inc. reduced its stake in Applied Materials, Inc. by 43.7% in Q1, holding 21,509 shares worth approximately $3.12 million after selling 16,699 shares.
  • Institutional investors dominate with 80.56% of the stock held, with significant increases from firms like Pacer Advisors and GAMMA Investing, which raised their stakes by over 2,400% and 18,400%, respectively.
  • Analysts maintain a consensus rating of "Moderate Buy" for Applied Materials, with an average price target of $204.09, indicating potential growth despite recent price adjustments from several brokerages.
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Benjamin Edwards Inc. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 43.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 21,509 shares of the manufacturing equipment provider's stock after selling 16,699 shares during the quarter. Benjamin Edwards Inc.'s holdings in Applied Materials were worth $3,121,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its position in shares of Applied Materials by 2,401.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,066,817 shares of the manufacturing equipment provider's stock valued at $445,056,000 after buying an additional 2,944,193 shares during the last quarter. GAMMA Investing LLC boosted its stake in Applied Materials by 18,402.1% in the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider's stock valued at $2,647,430,000 after acquiring an additional 1,814,444 shares during the period. Northern Trust Corp raised its position in shares of Applied Materials by 18.6% during the 4th quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider's stock worth $1,663,780,000 after purchasing an additional 1,602,645 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in shares of Applied Materials by 301.6% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock worth $318,754,000 after purchasing an additional 1,471,953 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Applied Materials by 10,767.6% in the 4th quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock worth $219,157,000 after purchasing an additional 1,335,180 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Stock Up 2.2%

Shares of NASDAQ AMAT traded up $4.07 during mid-day trading on Tuesday, reaching $188.45. The company had a trading volume of 5,914,939 shares, compared to its average volume of 6,113,435. 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 stock has a market capitalization of $151.23 billion, a PE ratio of 22.93, a price-to-earnings-growth ratio of 2.05 and a beta of 1.70. The stock's 50 day moving average is $182.71 and its 200-day moving average is $166.37. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month 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 (EPS) 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 analysts' expectations of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company's revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 earnings per share. As a group, equities analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

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

Insider Transactions at Applied Materials

In other Applied Materials 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 directly owned 5,300 shares in the company, valued at $946,580. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMAT. The Goldman Sachs Group began coverage on Applied Materials in a report on Thursday, July 10th. They issued a "buy" rating and a $225.00 price target on the stock. Morgan Stanley lifted their price objective on shares of Applied Materials from $158.00 to $169.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Wall Street Zen downgraded shares of Applied Materials from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Raymond James Financial reissued an "outperform" rating and set a $200.00 price target (down from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Finally, B. Riley decreased their target price on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $204.09.

Check Out Our Latest Stock Analysis on AMAT

About Applied Materials

(Free Report)

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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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