Hsbc Holdings PLC Sells 247,816 Shares of Applied Materials, Inc. $AMAT

Key Points

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Hsbc Holdings PLC lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,646,285 shares of the manufacturing equipment provider's stock after selling 247,816 shares during the period. Hsbc Holdings PLC owned 0.33% of Applied Materials worth $383,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Runnymede Capital Advisors Inc. boosted its holdings in shares of Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after purchasing an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Applied Materials in the 1st quarter valued at $29,000. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Applied Materials by 435.0% in the 1st quarter. Clal Insurance Enterprises Holdings Ltd now owns 214 shares of the manufacturing equipment provider's stock valued at $31,000 after purchasing an additional 174 shares in the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Applied Materials in the 4th quarter valued at $44,000. Finally, Disciplina Capital Management LLC boosted its holdings in shares of Applied Materials by 91.5% in the 1st quarter. Disciplina Capital Management LLC now owns 272 shares of the manufacturing equipment provider's stock valued at $39,000 after purchasing an additional 130 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

Insider Activity

In other news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value of $100,373.20. Following the transaction, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at $946,580. The trade was a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is owned by corporate insiders.

Applied Materials Stock Up 1.1%

Shares of NASDAQ:AMAT opened at $163.53 on Tuesday. The company has a market capitalization of $131.23 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 1.81 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The business's 50-day moving average is $184.06 and its 200-day moving average is $166.42. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.36 by $0.12. The company had revenue of $7.30 billion for the quarter, compared to the consensus estimate of $7.21 billion. Applied Materials had a return on equity of 41.31% and a net margin of 23.88%. The firm's revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 EPS. Equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

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 paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's payout ratio is currently 21.93%.

Analyst Ratings Changes

AMAT has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 target price on shares of Applied Materials in a report on Friday, May 16th. Citigroup reduced their target price on Applied Materials from $220.00 to $205.00 and set a "buy" rating on the stock in a report on Friday. Stifel Nicolaus reduced their target price on Applied Materials from $195.00 to $180.00 and set a "buy" rating on the stock in a report on Friday. Barclays raised their price objective on Applied Materials from $160.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. Finally, Morgan Stanley raised their price objective on Applied Materials from $169.00 to $172.00 and gave the company an "equal weight" rating in a report on Friday. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $194.84.

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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