IFP Advisors Inc Purchases 6,370 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

IFP Advisors Inc boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 32.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,999 shares of the manufacturing equipment provider's stock after purchasing an additional 6,370 shares during the period. IFP Advisors Inc's holdings in Applied Materials were worth $3,774,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. OneAscent Financial Services LLC bought a new position in Applied Materials during the 1st quarter valued at about $422,000. Copperwynd Financial LLC grew its holdings in Applied Materials by 13.3% during the 1st quarter. Copperwynd Financial LLC now owns 5,074 shares of the manufacturing equipment provider's stock worth $736,000 after acquiring an additional 595 shares during the last quarter. South Dakota Investment Council grew its holdings in Applied Materials by 0.9% during the 1st quarter. South Dakota Investment Council now owns 119,771 shares of the manufacturing equipment provider's stock worth $17,381,000 after acquiring an additional 1,031 shares during the last quarter. Calton & Associates Inc. bought a new stake in Applied Materials during the 1st quarter worth about $2,669,000. Finally, Rule One Partners LLC bought a new stake in Applied Materials during the 1st quarter worth about $2,177,000. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. TD Cowen decreased their price objective on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 16th. B. Riley decreased 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. Mizuho increased their price objective on shares of Applied Materials from $195.00 to $220.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Wall Street Zen lowered shares of Applied Materials from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Bank of America cut their target price 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. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $204.74.

Applied Materials Trading Down 1.1%

Applied Materials stock opened at $190.44 on Monday. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $224.09. 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 $152.83 billion, a P/E ratio of 23.17, a PEG ratio of 2.12 and a beta of 1.69. The stock has a 50-day simple moving average of $175.89 and a 200 day simple moving average of $166.02.

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 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 business's revenue was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.09 EPS. Analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio is currently 22.38%.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction dated 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 directly owned 5,300 shares of the company's stock, valued at $946,580. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by corporate insiders.

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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