Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,169 shares of the manufacturing equipment provider's stock after buying an additional 5,120 shares during the quarter. Elevation Point Wealth Partners LLC's holdings in Applied Materials were worth $2,927,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Jacobi Capital Management LLC raised its stake in Applied Materials by 51.2% in the fourth quarter. Jacobi Capital Management LLC now owns 18,785 shares of the manufacturing equipment provider's stock valued at $3,055,000 after buying an additional 6,364 shares during the last quarter. Skye Global Management LP acquired a new position in shares of Applied Materials during the fourth quarter valued at about $45,862,000. Cable Hill Partners LLC raised its position in shares of Applied Materials by 10.2% in the 4th quarter. Cable Hill Partners LLC now owns 3,485 shares of the manufacturing equipment provider's stock valued at $567,000 after purchasing an additional 322 shares during the last quarter. Value Partners Investments Inc. boosted its stake in Applied Materials by 8.7% in the 4th quarter. Value Partners Investments Inc. now owns 9,896 shares of the manufacturing equipment provider's stock worth $1,608,000 after purchasing an additional 793 shares in the last quarter. Finally, Leonard Rickey Investment Advisors P.L.L.C. acquired a new stake in Applied Materials in the 1st quarter worth approximately $230,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT traded down $2.46 during trading on Tuesday, hitting $174.09. 6,598,287 shares of the stock traded hands, compared to its average volume of 6,994,533. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $157.46 and a two-hundred day moving average price of $163.18. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.89. The company has a market cap of $139.71 billion, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.97 and a beta of 1.67.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the previous year, the company earned $2.09 earnings per share. The firm's revenue for the quarter was up 6.8% on a year-over-year basis. As a group, equities analysts predict 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 given a dividend of $0.46 per share. 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 1.06%. Applied Materials's dividend payout ratio is currently 22.38%.

Applied Materials announced that its Board of Directors has approved a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of research analysts have issued reports on AMAT shares. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a research note on Friday, May 16th. Mizuho cut their target price on Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Barclays reduced their target price on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Raymond James Financial reiterated an "outperform" rating and set a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Finally, Morgan Stanley raised Applied Materials from an "underweight" rating to an "equal weight" rating and cut their price objective for the company from $162.00 to $158.00 in a report on Friday, June 6th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $199.29.

Insider Buying and Selling at Applied Materials

In related news, CEO Gary E. Dickerson bought 50,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares of the company's stock, valued at approximately $235,614,763.40. This trade represents a 3.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Adam Sanders sold 450 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the transaction, the chief accounting officer now owns 6,077 shares of the company's stock, valued at approximately $880,131.91. This trade represents a 6.89% decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by corporate insiders.

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.