CCM Investment Group LLC Takes $3.47 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• CCM Investment Group LLC has acquired a new stake in Applied Materials, Inc. by purchasing 23,892 shares valued at approximately $3.47 million.
• Applied Materials reported a EPS of $2.39 for its most recent quarter, exceeding the consensus estimate by $0.08, alongside a revenue of $7.10 billion.
• The company announced a quarterly dividend of $0.46 per share, representing an annualized dividend yield of 1.0%, with a payout ratio of 22.38%.

CCM Investment Group LLC bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 23,892 shares of the manufacturing equipment provider's stock, valued at approximately $3,466,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAT. Runnymede Capital Advisors Inc. grew its position in shares of Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock worth $28,000 after buying an additional 175 shares during the period. Smallwood Wealth Investment Management LLC bought a new position in shares of Applied Materials in the 1st quarter worth approximately $29,000. Mascagni Wealth Management Inc. bought a new position in shares of Applied Materials in the 4th quarter worth approximately $44,000. Costello Asset Management INC bought a new stake in Applied Materials during the 1st quarter worth approximately $44,000. Finally, Minot DeBlois Advisors LLC purchased a new stake in Applied Materials during the 4th quarter valued at approximately $46,000. Institutional investors own 80.56% of the company's stock.

Applied Materials Trading Up 2.2%

Shares of NASDAQ AMAT traded up $4.07 during mid-day trading on Tuesday, hitting $188.45. 5,610,666 shares of the company traded hands, compared to its average volume of 7,224,061. The business has a 50 day moving average of $182.71 and a two-hundred day moving average of $166.37. The stock has a market capitalization of $151.23 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 2.06 and a beta of 1.70. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. 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 announced its quarterly earnings data 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 return on equity of 40.15% and a net margin of 24.06%. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter last year, the firm earned $2.09 EPS. Applied Materials's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

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 issued a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.0%. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Insider Activity

In other news, CAO Adam Sanders sold 562 shares of the firm'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 completion of the sale, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.24% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on AMAT. Stifel Nicolaus decreased their price objective on Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald set a $220.00 price target on shares of Applied Materials and gave the company an "overweight" rating in a research note on Tuesday, June 24th. The Goldman Sachs Group started coverage on shares of Applied Materials in a research note on Thursday, July 10th. They set a "buy" rating and a $225.00 target price on the stock. Mizuho boosted their price objective on shares of Applied Materials from $195.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $200.00 price target (down from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Applied Materials presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.09.

Applied Materials 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.