Corebridge Financial Inc. Has $36.97 Million Stake in Applied Materials, Inc. $AMAT

Key Points

• Corebridge Financial Inc. has reduced its stake in Applied Materials by 4.8%, owning 254,727 shares valued at approximately $36.97 million as of the end of the first quarter.
• Numerous institutional investors are actively trading Applied Materials' stock, with Nuveen LLC acquiring about $1.09 billion worth in the same quarter, significantly increasing their holdings.
• Applied Materials reported earnings of $2.48 per share for the last quarter, exceeding analyst estimates, while the company also announced a quarterly dividend of $0.46 per share to be paid on September 11th.

Corebridge Financial Inc. decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 254,727 shares of the manufacturing equipment provider's stock after selling 12,948 shares during the quarter. Corebridge Financial Inc.'s holdings in Applied Materials were worth $36,966,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of AMAT. Nuveen LLC acquired a new position in Applied Materials during the first quarter worth about $1,085,600,000. Pacer Advisors Inc. grew its holdings in shares of Applied Materials by 2,401.0% during the first quarter. Pacer Advisors Inc. now owns 3,066,817 shares of the manufacturing equipment provider's stock worth $445,056,000 after purchasing an additional 2,944,193 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Applied Materials by 18,402.1% during the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider's stock worth $2,647,430,000 after purchasing an additional 1,814,444 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Applied Materials by 43.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,573,673 shares of the manufacturing equipment provider's stock worth $808,853,000 after purchasing an additional 1,691,428 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Applied Materials by 18.6% during the fourth 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 last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Applied Materials Price Performance

Applied Materials stock opened at $162.49 on Monday. The stock has a market capitalization of $130.40 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 2.32 and a beta of 1.70. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $215.70. The stock's 50 day moving average price is $183.13 and its two-hundred day moving average price is $165.90. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.76 and a current ratio of 2.50.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings results on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.36 by $0.12. The firm had revenue of $7.30 billion for the quarter, compared to analysts' expectations of $7.21 billion. Applied Materials had a return on equity of 40.96% and a net margin of 23.88%.The company's revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.12 EPS. Applied Materials has set its Q4 2025 guidance at 1.910-2.310 EPS. On average, equities analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio is presently 21.93%.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the company'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 transaction of $100,373.20. Following the transaction, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at $946,580. This 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 through this link. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AMAT has been the topic of several research reports. Evercore ISI restated an "outperform" rating and set a $209.00 price target on shares of Applied Materials in a report on Friday, August 15th. Bank of America restated a "neutral" rating and set a $180.00 price target (down from $190.00) on shares of Applied Materials in a report on Friday, August 15th. Wolfe Research reduced their target price on Applied Materials from $230.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. Mizuho reduced their target price on Applied Materials from $220.00 to $200.00 and set an "outperform" rating on the stock in a report on Friday, August 15th. Finally, Citigroup reduced their target price on Applied Materials from $220.00 to $205.00 and set a "buy" rating on the stock in a report on Friday, August 15th. Seventeen equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Applied Materials presently has an average rating of "Moderate Buy" and an average target price of $193.88.

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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