Golden State Wealth Management LLC Raises Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Golden State Wealth Management LLC increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 122.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,581 shares of the manufacturing equipment provider's stock after purchasing an additional 5,280 shares during the period. Golden State Wealth Management LLC's holdings in Applied Materials were worth $1,391,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Runnymede Capital Advisors Inc. raised its position in shares of Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after buying an additional 175 shares during the period. Mascagni Wealth Management Inc. acquired a new stake in Applied Materials during the fourth quarter worth $44,000. Atala Financial Inc purchased a new stake in Applied Materials in the fourth quarter valued at $45,000. Minot DeBlois Advisors LLC acquired a new position in shares of Applied Materials in the 4th quarter valued at $46,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Applied Materials during the 4th quarter worth $48,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Up 0.2%

Applied Materials stock traded up $0.45 during trading on Thursday, reaching $183.52. The stock had a trading volume of 5,195,919 shares, compared to its average volume of 7,005,181. 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 52-week low of $123.74 and a 52-week high of $255.89. The stock has a market cap of $147.27 billion, a PE ratio of 22.33, a P/E/G ratio of 2.01 and a beta of 1.67. The business has a 50 day moving average price of $161.25 and a 200 day moving average price of $163.14.

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 (EPS) for the quarter, topping the consensus estimate of $2.31 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company's revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the previous year, the company earned $2.09 EPS. On average, analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has initiated a stock repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board believes its stock is undervalued.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a $0.46 dividend. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.00%. Applied Materials's payout ratio is currently 22.38%.

Insider Transactions at Applied Materials

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

Analyst Ratings Changes

AMAT has been the topic of several research analyst reports. B. Riley reduced their price objective on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Monday, May 12th. Needham & Company LLC reissued a "buy" rating and issued a $195.00 price target on shares of Applied Materials in a research note on Friday, May 16th. Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price objective on the stock in a report on Friday, March 28th. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their price target on Applied Materials from $240.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $200.24.

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.