Coronation Fund Managers Ltd. bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 340,276 shares of the manufacturing equipment provider's stock, valued at approximately $49,381,000. Applied Materials comprises approximately 2.7% of Coronation Fund Managers Ltd.'s investment portfolio, making the stock its 12th biggest position.
Several other large investors have also added to or reduced their stakes in AMAT. Runnymede Capital Advisors Inc. boosted its holdings in Applied Materials by 972.2% during the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock worth $28,000 after purchasing an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Applied Materials in the first quarter valued at $29,000. Mascagni Wealth Management Inc. acquired a new stake in Applied Materials in the fourth quarter valued at $44,000. Costello Asset Management INC acquired a new stake in Applied Materials in the first quarter valued at $44,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in Applied Materials in the fourth quarter valued at $46,000. Institutional investors and hedge funds own 80.56% of the company's stock.
Insider Buying and Selling
In other news, CAO Adam Sanders sold 562 shares of the firm's 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 sale, the chief accounting officer directly owned 5,300 shares in the company, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.
Applied Materials Stock Performance
NASDAQ:AMAT traded down $0.49 during mid-day trading on Monday, reaching $184.38. 7,813,506 shares of the company's stock were exchanged, compared to its average volume of 7,234,765. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $215.70. The firm has a market capitalization of $147.96 billion, a PE ratio of 22.43, a price-to-earnings-growth ratio of 2.06 and a beta of 1.70. The business's fifty day simple moving average is $182.16 and its two-hundred day simple moving average is $166.39. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46.
Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating 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 firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period last year, the firm earned $2.09 EPS. The business's quarterly revenue was up 6.8% compared to the same quarter last year. Analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.
Applied Materials Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is currently 22.38%.
Analyst Ratings Changes
A number of brokerages have commented on AMAT. Barclays increased their price target on shares of Applied Materials from $160.00 to $170.00 and gave the company an "equal weight" rating in a research note on Monday, July 28th. TD Cowen cut their price target on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Wall Street Zen cut shares of Applied Materials from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Bank of America cut their price target on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus cut their target price on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $204.09.
Check Out Our Latest Stock Analysis on Applied Materials
Applied Materials Profile
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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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