Howard Capital Management Inc. Has $3.45 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Howard Capital Management Inc. has reduced its position in Applied Materials by 13.3%, selling 3,642 shares in the first quarter, resulting in holdings worth approximately $3.45 million.
• Institutional investors now own 80.56% of Applied Materials' stock, with several hedge funds, including Eagle Capital Management and Brighton Jones LLC, making adjustments to their positions during the fourth quarter.
• Analysts have mixed views on Applied Materials, with price targets ranging from $190.00 to $250.00, and a consensus rating of "Moderate Buy."

Howard Capital Management Inc. trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 13.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,777 shares of the manufacturing equipment provider's stock after selling 3,642 shares during the quarter. Howard Capital Management Inc.'s holdings in Applied Materials were worth $3,451,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of AMAT. Skye Global Management LP purchased a new stake in shares of Applied Materials during the 4th quarter valued at about $45,862,000. Value Partners Investments Inc. raised its stake in shares of Applied Materials by 8.7% during the fourth quarter. Value Partners Investments Inc. now owns 9,896 shares of the manufacturing equipment provider's stock valued at $1,608,000 after purchasing an additional 793 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. purchased a new stake in shares of Applied Materials during the first quarter valued at approximately $230,000. Townsquare Capital LLC raised its stake in shares of Applied Materials by 15.6% during the fourth quarter. Townsquare Capital LLC now owns 71,577 shares of the manufacturing equipment provider's stock valued at $11,640,000 after purchasing an additional 9,672 shares during the period. Finally, Humankind Investments LLC increased its stake in Applied Materials by 28.2% during the 4th quarter. Humankind Investments LLC now owns 1,503 shares of the manufacturing equipment provider's stock worth $244,000 after buying an additional 331 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

NASDAQ AMAT traded up $0.98 on Wednesday, hitting $189.39. The stock had a trading volume of 3,958,519 shares, compared to its average volume of 5,725,215. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $215.70. The stock has a market cap of $151.99 billion, a price-to-earnings ratio of 23.04, a P/E/G ratio of 2.10 and a beta of 1.69. The company's 50-day moving average is $179.07 and its two-hundred day moving average is $166.88. 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 (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results 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 company had revenue of $7.10 billion during the quarter, compared to analysts' expectations of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The company's revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.09 earnings per share. On average, analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The business 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. This represents a $1.84 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Insider Activity

In related news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction dated 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 transaction, the chief accounting officer owned 5,300 shares of the company's stock, valued at $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is owned by company insiders.

Analyst Ratings Changes

AMAT has been the topic of several analyst reports. 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 research note on Monday, July 7th. JPMorgan Chase & Co. dropped their price objective on Applied Materials from $240.00 to $210.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Wells Fargo & Company lifted their price objective on Applied Materials from $200.00 to $215.00 and gave the stock an "overweight" rating in a report on Tuesday, July 8th. Redburn Atlantic lowered shares of Applied Materials from a "strong-buy" rating to a "hold" rating and dropped their price target for the stock from $225.00 to $200.00 in a research note on Monday, July 7th. Finally, TD Cowen dropped their price target on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a research note on Friday, May 16th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Applied Materials presently has a consensus rating of "Moderate Buy" and an average price target of $205.17.

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.