Greater Midwest Financial Group LLC Boosts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Greater Midwest Financial Group LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 15.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,836 shares of the manufacturing equipment provider's stock after acquiring an additional 2,675 shares during the quarter. Applied Materials accounts for approximately 2.0% of Greater Midwest Financial Group LLC's holdings, making the stock its 13th biggest holding. Greater Midwest Financial Group LLC's holdings in Applied Materials were worth $2,879,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Runnymede Capital Advisors Inc. raised its stake in shares of 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 acquiring an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Applied Materials during the first quarter worth approximately $29,000. Mascagni Wealth Management Inc. purchased a new position in shares of Applied Materials during the fourth quarter worth approximately $44,000. Atala Financial Inc purchased a new position in shares of Applied Materials in the fourth quarter worth $45,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of Applied Materials in the fourth quarter worth $46,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the 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 transaction, the chief accounting officer 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 Securities & Exchange Commission, which is available at this link. 0.24% of the stock is owned by company insiders.

Applied Materials Price Performance

AMAT opened at $198.03 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. The stock has a market capitalization of $158.92 billion, a P/E ratio of 24.09, a P/E/G ratio of 2.18 and a beta of 1.69. The company's 50-day simple moving average is $171.06 and its two-hundred day simple moving average is $164.77. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.57.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping 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 analysts' expectations of $7.12 billion. During the same quarter in the prior year, the business earned $2.09 EPS. The business's quarterly revenue was up 6.8% on a year-over-year basis. As a group, analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

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 paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on AMAT shares. Needham & Company LLC reissued a "buy" rating and set a $195.00 price objective on shares of Applied Materials in a research report on Friday, May 16th. Bank of America reduced their price objective on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald set a $220.00 price objective on shares of Applied Materials and gave the company an "overweight" rating in a research report on Tuesday, June 24th. Rothschild & Co Redburn downgraded shares of Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price objective on the stock. in a research report on Monday. Finally, Mizuho reduced their price objective on shares of Applied Materials from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Friday, May 16th. Nine investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $203.65.

Applied Materials Company 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.

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