ING Groep NV Increases Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• ING Groep NV raised its stake in Applied Materials, Inc. by 18% during the first quarter, owning approximately 453,795 shares valued at around $65.9 million.
• The company recently announced a quarterly dividend of $0.46 per share, with a payout ratio of 22.38% and an annualized dividend yield of 1.0%.
• Applied Materials reported earnings of $2.39 per share for the last quarter, exceeding expectations and showcasing a 6.8% revenue growth year-over-year.

ING Groep NV raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 18.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 453,795 shares of the manufacturing equipment provider's stock after acquiring an additional 69,364 shares during the period. ING Groep NV owned approximately 0.06% of Applied Materials worth $65,855,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Runnymede Capital Advisors Inc. grew its position in Applied Materials by 972.2% during the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after acquiring an additional 175 shares during the period. Smallwood Wealth Investment Management LLC purchased a new stake in Applied Materials during the first quarter valued at about $29,000. Mascagni Wealth Management Inc. purchased a new stake in Applied Materials during the fourth quarter valued at about $44,000. Minot DeBlois Advisors LLC purchased a new stake in Applied Materials during the fourth quarter valued at about $46,000. Finally, Fiduciary Wealth Partners LLC purchased a new stake in Applied Materials during the first quarter valued at about $46,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Trading Down 0.0%

Shares of NASDAQ AMAT opened at $179.99 on Monday. The stock's 50 day moving average price is $179.91 and its two-hundred day moving average price is $166.77. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $215.70. The stock has a market capitalization of $144.44 billion, a P/E ratio of 21.90, a PEG ratio of 2.00 and a beta of 1.70. 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 announced 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. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the prior year, the firm posted $2.09 earnings per share. Applied Materials's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio is presently 22.38%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Rothschild & Co Redburn downgraded Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a research report on Monday, July 7th. Stifel Nicolaus reduced their price objective on Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC restated a "buy" rating and set a $195.00 price objective on shares of Applied Materials in a research note on Friday, May 16th. Wall Street Zen cut Applied Materials from a "buy" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Redburn Atlantic cut Applied Materials from a "strong-buy" rating to a "hold" rating and reduced their price objective for the stock from $225.00 to $200.00 in a research note on Monday, July 7th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $205.17.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the stock in a transaction that occurred 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 directly owned 5,300 shares in the company, valued at approximately $946,580. This represents a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company's stock.

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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