BIT Capital GmbH Sells 13,832 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• BIT Capital GmbH reduced its holdings in Applied Materials, Inc. by 84.1%, selling 13,832 shares and now owning 2,620 shares valued at $380,000.
• Institutional investors own 80.56% of Applied Materials stock, with several firms increasing their positions during the first quarter.
• Applied Materials declared a quarterly dividend of $0.46 per share, representing a 1.0% yield, with shares expected to be paid on September 11th.

BIT Capital GmbH cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 84.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,620 shares of the manufacturing equipment provider's stock after selling 13,832 shares during the period. BIT Capital GmbH's holdings in Applied Materials were worth $380,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of AMAT. Belpointe Asset Management LLC increased its position in 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 worth $607,000 after buying an additional 62 shares during the period. Old Port Advisors increased its position in Applied Materials by 2.5% during 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 period. Silver Oak Securities Incorporated increased its position in Applied Materials by 4.7% during 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 period. Cromwell Holdings LLC increased its position in Applied Materials by 2.8% during 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 period. Finally, TCTC Holdings LLC increased its position in Applied Materials by 7.2% during 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 period. 80.56% of the stock is currently owned by institutional investors.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value of $100,373.20. Following the transaction, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at approximately $946,580. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company's stock.

Applied Materials Stock Performance

Shares of AMAT stock opened at $179.99 on Friday. The business's 50-day moving average price is $179.91 and its 200-day moving average price is $166.91. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $215.70. The firm has a market capitalization 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 company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29.

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 firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm posted $2.09 earnings per share. Equities research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently declared 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 of this dividend is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 1.0%. Applied Materials's payout ratio is 22.38%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Raymond James Financial restated an "outperform" rating and issued a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. JPMorgan Chase & Co. decreased their price target on Applied Materials from $240.00 to $210.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Morgan Stanley raised their price target on Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Citigroup raised their price target on Applied Materials from $190.00 to $220.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Wall Street Zen cut Applied Materials from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $205.17.

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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