IMA Advisory Services Inc. Buys Shares of 5,970 Applied Materials, Inc. (NASDAQ:AMAT)

IMA Advisory Services Inc. bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,970 shares of the manufacturing equipment provider's stock, valued at approximately $866,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Belpointe Asset Management LLC boosted its stake in shares of Applied Materials by 1.7% in the fourth quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider's stock worth $607,000 after acquiring an additional 62 shares during the period. Old Port Advisors boosted its stake in shares of Applied Materials by 2.5% in the first quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider's stock worth $396,000 after acquiring an additional 66 shares during the period. Silver Oak Securities Incorporated boosted its stake in shares of Applied Materials by 4.7% in the first quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider's stock worth $218,000 after acquiring an additional 68 shares during the period. Cromwell Holdings LLC boosted its stake in shares of Applied Materials by 2.8% in the first quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock worth $369,000 after acquiring an additional 69 shares during the period. Finally, Hardy Reed LLC boosted its stake in Applied Materials by 1.0% during the first quarter. Hardy Reed LLC now owns 7,324 shares of the manufacturing equipment provider's stock valued at $1,063,000 after buying an additional 71 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Trading Up 0.6%

Shares of NASDAQ AMAT traded up $1.11 during midday trading on Thursday, hitting $188.12. The company's stock had a trading volume of 4,805,343 shares, compared to its average volume of 6,180,138. The business's 50 day moving average is $177.19 and its two-hundred day moving average is $166.54. The firm has a market cap of $150.97 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.08 and a beta of 1.69. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $215.70. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. Applied Materials's quarterly revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. As a group, equities research analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The company 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 dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 0.98%. Applied Materials's payout ratio is currently 22.38%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on AMAT. Rothschild & Co Redburn lowered Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a research note on Monday, July 7th. Citigroup increased their price target on Applied Materials from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, July 7th. JPMorgan Chase & Co. dropped their price target on Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Morgan Stanley increased their price target on Applied Materials from $158.00 to $169.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. Finally, B. Riley dropped their price target on Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $204.74.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the sale, the chief accounting officer owned 5,300 shares of the company's stock, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by insiders.

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.