HB Wealth Management LLC Acquires 1,935 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• HB Wealth Management LLC increased its stake in Applied Materials, Inc. by 9.5% in the first quarter, owning a total of 22,392 shares valued at $3.25 million.
• Several analysts have revised their price targets for Applied Materials, with a consensus rating of "Moderate Buy" and an average price target of $204.74.
• Applied Materials announced a quarterly dividend of $0.46 per share, with a yield of 0.99%, to be paid on September 11th to investors of record on August 21st.

HB Wealth Management LLC increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,392 shares of the manufacturing equipment provider's stock after acquiring an additional 1,935 shares during the quarter. HB Wealth Management LLC's holdings in Applied Materials were worth $3,250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Angeles Wealth Management LLC increased its stake in Applied Materials by 35.1% during the 1st quarter. Angeles Wealth Management LLC now owns 2,105 shares of the manufacturing equipment provider's stock valued at $305,000 after purchasing an additional 547 shares in the last quarter. Nvwm LLC increased its stake in Applied Materials by 2.4% during the 1st quarter. Nvwm LLC now owns 16,590 shares of the manufacturing equipment provider's stock valued at $2,408,000 after purchasing an additional 389 shares in the last quarter. Drive Wealth Management LLC increased its stake in Applied Materials by 3.8% during the 1st quarter. Drive Wealth Management LLC now owns 2,847 shares of the manufacturing equipment provider's stock valued at $413,000 after purchasing an additional 104 shares in the last quarter. Caliber Wealth Management LLC KS bought a new stake in Applied Materials during the 1st quarter valued at about $203,000. Finally, Pacer Advisors Inc. increased its stake in Applied Materials by 2,401.0% during the 1st quarter. Pacer Advisors Inc. now owns 3,066,817 shares of the manufacturing equipment provider's stock valued at $445,056,000 after purchasing an additional 2,944,193 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction 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 owned 5,300 shares in the company, valued at approximately $946,580. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AMAT shares. Barclays raised their price objective 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. Cantor Fitzgerald set a $220.00 price target on shares of Applied Materials and gave the company an "overweight" rating in a report on Tuesday, June 24th. Stifel Nicolaus dropped their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Rothschild & Co Redburn downgraded shares of Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target on the stock. in a report on Monday, July 7th. Finally, The Goldman Sachs Group assumed coverage on shares of Applied Materials in a report on Thursday, July 10th. They set a "buy" rating and a $225.00 price target on the stock. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Applied Materials currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.17.

Applied Materials Price Performance

Shares of Applied Materials stock traded down $9.23 on Thursday, hitting $180.16. 4,931,634 shares of the company traded hands, compared to its average volume of 7,245,377. The stock has a market capitalization of $144.58 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 2.10 and a beta of 1.69. 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, Inc. has a 52 week low of $123.74 and a 52 week high of $215.70. The business has a 50-day simple moving average of $179.07 and a 200 day simple moving average of $166.88.

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, beating the consensus estimate of $2.31 by $0.08. The firm had revenue of $7.10 billion for 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% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 earnings per share. Research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.02%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio is presently 22.38%.

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.