Callan Capital LLC Buys Shares of 1,525 Applied Materials, Inc. (NASDAQ:AMAT)

Callan Capital LLC purchased a new position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,525 shares of the manufacturing equipment provider's stock, valued at approximately $221,000.

A number of other institutional investors have also bought and sold shares of AMAT. Belpointe Asset Management LLC increased its holdings 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 buying an additional 62 shares during the last quarter. Hills Bank & Trust Co increased its holdings in Applied Materials by 6.6% in the fourth quarter. Hills Bank & Trust Co now owns 1,061 shares of the manufacturing equipment provider's stock valued at $173,000 after buying an additional 66 shares during the last quarter. Silver Oak Securities Incorporated increased its holdings 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 buying an additional 68 shares during the last quarter. TCTC Holdings LLC increased its holdings in Applied Materials by 7.7% in the fourth quarter. TCTC Holdings LLC now owns 977 shares of the manufacturing equipment provider's stock valued at $159,000 after buying an additional 70 shares during the last quarter. Finally, Fourpath Capital Management LLC increased its holdings in Applied Materials by 0.8% in the first quarter. Fourpath Capital Management LLC now owns 9,566 shares of the manufacturing equipment provider's stock valued at $1,388,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Stock Performance

Shares of AMAT traded up $2.64 during mid-day trading on Thursday, hitting $198.03. 5,228,717 shares of the company's stock were exchanged, compared to its average volume of 7,114,250. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.57. The firm has a market capitalization of $158.92 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.18 and a beta of 1.69. The business's 50 day moving average is $170.07 and its two-hundred day moving average is $164.56. 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 earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the prior year, the firm earned $2.09 earnings per share. The business's quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given 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 yield of 0.93%. Applied Materials's payout ratio is currently 22.38%.

Wall Street Analyst Weigh In

Several research firms recently commented on AMAT. Redburn Atlantic lowered Applied Materials from a "strong-buy" rating to a "hold" rating and dropped their target price for the company from $225.00 to $200.00 in a report on Monday. Raymond James Financial reissued an "outperform" rating and issued a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Jefferies Financial Group raised Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price on the stock in a report on Friday, March 28th. Mizuho dropped their target price on Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a report on Friday, May 16th. Finally, Edward Jones raised Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, Applied Materials has a consensus rating of "Moderate Buy" and an average price target of $203.65.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction dated 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 owned 5,300 shares in the company, valued at $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by insiders.

Applied Materials Company 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.