GFG Capital LLC Boosts Position in Applied Materials, Inc. (NASDAQ:AMAT)

GFG Capital LLC raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 9.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,471 shares of the manufacturing equipment provider's stock after purchasing an additional 2,793 shares during the quarter. Applied Materials makes up about 1.4% of GFG Capital LLC's holdings, making the stock its 22nd biggest holding. GFG Capital LLC's holdings in Applied Materials were worth $4,857,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in AMAT. Eagle Capital Management LLC boosted its stake in Applied Materials by 1.8% in the 4th quarter. Eagle Capital Management LLC now owns 16,004 shares of the manufacturing equipment provider's stock worth $2,603,000 after purchasing an additional 290 shares in the last quarter. Brighton Jones LLC lifted its stake in shares of Applied Materials by 28.0% in the 4th quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider's stock worth $2,061,000 after purchasing an additional 2,771 shares during the period. Proficio Capital Partners LLC raised its stake in shares of Applied Materials by 25.7% in the fourth quarter. Proficio Capital Partners LLC now owns 4,530 shares of the manufacturing equipment provider's stock worth $737,000 after buying an additional 926 shares during the period. Edgestream Partners L.P. bought a new position in shares of Applied Materials in the fourth quarter worth about $833,000. Finally, AlphaQuest LLC raised its stake in shares of Applied Materials by 201.3% in the fourth quarter. AlphaQuest LLC now owns 3,510 shares of the manufacturing equipment provider's stock worth $571,000 after buying an additional 2,345 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $194.99 on Wednesday. The firm has a market cap of $156.48 billion, a P/E ratio of 23.72, a P/E/G ratio of 2.12 and a beta of 1.69. 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, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The stock's fifty day moving average price is $169.18 and its 200-day moving average price is $164.35.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly 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. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business's revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.09 earnings per share. On average, equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is currently 22.38%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on AMAT. B. Riley cut their price objective on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, May 12th. Citigroup increased their price objective on shares of Applied Materials from $190.00 to $220.00 and gave the company a "buy" rating in a report on Monday. TD Cowen reduced their price objective on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research note on Friday, May 16th. Edward Jones raised Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, Raymond James Financial reiterated an "outperform" rating and set a $200.00 target price (down from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $202.65.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the company's stock in a transaction 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 completion of the sale, the chief accounting officer directly owned 5,300 shares in the company, valued at $946,580. This represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.24% of the stock is owned by company 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.

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