Applied Materials, Inc. (NASDAQ:AMAT) Stake Lessened by Marco Investment Management LLC

Key Points

• Marco Investment Management LLC sold 9,900 shares of Applied Materials, reducing its holdings by 31.9%, leaving it with 21,103 shares valued at approximately $3.06 million as of the last quarter.
• Applied Materials reported earnings of $2.39 per share, surpassing analyst expectations, and posted revenue of $7.10 billion, an increase of 6.8% compared to the same quarter last year.
• Several investment firms have recently issued ratings on Applied Materials, with a consensus rating of "Moderate Buy" and a price target of $205.17 per share, reflecting optimistic growth forecasts.

Marco Investment Management LLC cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 31.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,103 shares of the manufacturing equipment provider's stock after selling 9,900 shares during the period. Marco Investment Management LLC's holdings in Applied Materials were worth $3,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of Applied Materials by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 20,079,451 shares of the manufacturing equipment provider's stock worth $3,260,178,000 after buying an additional 253,078 shares in the last quarter. Northern Trust Corp increased its position in shares of Applied Materials by 18.6% in the 4th quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider's stock valued at $1,663,780,000 after purchasing an additional 1,602,645 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Applied Materials by 7.6% in the 4th quarter. Alliancebernstein L.P. now owns 8,338,520 shares of the manufacturing equipment provider's stock valued at $1,356,094,000 after purchasing an additional 587,036 shares during the last quarter. Deutsche Bank AG increased its position in shares of Applied Materials by 8.9% in the 4th quarter. Deutsche Bank AG now owns 5,954,305 shares of the manufacturing equipment provider's stock valued at $968,349,000 after purchasing an additional 484,133 shares during the last quarter. Finally, EdgePoint Investment Group Inc. increased its position in shares of Applied Materials by 37.0% in the 4th quarter. EdgePoint Investment Group Inc. now owns 3,913,942 shares of the manufacturing equipment provider's stock valued at $636,524,000 after purchasing an additional 1,056,787 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Trading Up 0.1%

AMAT traded up $0.13 during midday trading on Friday, hitting $180.19. The company's stock had a trading volume of 5,362,535 shares, compared to its average volume of 7,276,538. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The firm has a market cap of $144.60 billion, a P/E ratio of 21.91, a PEG ratio of 2.11 and a beta of 1.69. The firm has a 50-day moving average price of $179.46 and a two-hundred day moving average price of $166.95. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates 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%. Applied Materials's revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 earnings per share. On average, research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

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

Wall Street Analysts Forecast Growth

AMAT has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Applied Materials from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Morgan Stanley upped their price target on Applied Materials from $158.00 to $169.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. B. Riley lowered their price target on Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, May 12th. Barclays increased 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. Finally, Rothschild & Co Redburn downgraded Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price objective for the company. in a report on Monday, July 7th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Applied Materials presently has a consensus rating of "Moderate Buy" and an average target price of $205.17.

Insider Activity

In related news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the sale, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. The trade was a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently 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.