Mizuho Securities USA LLC Has $9.44 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Applied Materials, Inc. by 16.7%, now owning 65,073 shares valued at approximately $9.44 million after selling 13,062 shares.
• Several hedge funds have recently made significant moves, including Runnymede Capital Advisors, which increased its position by 972.2% to 193 shares worth $28,000.
• Applied Materials announced a quarterly dividend of $0.46 per share, with an annualized dividend yield of 1.0%, payable on September 11th for shareholders on record as of August 21st.

Mizuho Securities USA LLC reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 16.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 65,073 shares of the manufacturing equipment provider's stock after selling 13,062 shares during the period. Mizuho Securities USA LLC's holdings in Applied Materials were worth $9,443,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Belpointe Asset Management LLC lifted its holdings in 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 valued at $607,000 after buying an additional 62 shares during the period. Old Port Advisors lifted its holdings in Applied Materials by 2.5% in the first quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider's stock valued at $396,000 after buying an additional 66 shares during the period. Silver Oak Securities Incorporated lifted its holdings in 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 valued at $218,000 after buying an additional 68 shares during the period. Cromwell Holdings LLC lifted its holdings in Applied Materials by 2.8% in the first quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock valued at $369,000 after buying an additional 69 shares during the period. Finally, TCTC Holdings LLC lifted its holdings in Applied Materials by 7.2% in the first quarter. TCTC Holdings LLC now owns 1,047 shares of the manufacturing equipment provider's stock valued at $152,000 after buying an additional 70 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 target price on shares of Applied Materials in a research note on Friday, May 16th. Rothschild & Co Redburn downgraded shares of Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 target price for the company. in a research note on Monday, July 7th. Stifel Nicolaus lowered their target price on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Citigroup upped their target price on shares of Applied Materials from $190.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Nine research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $204.09.

Applied Materials Stock Performance

Applied Materials stock traded up $1.72 during midday trading on Friday, hitting $184.87. The company's stock had a trading volume of 4,338,229 shares, compared to its average volume of 6,090,117. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $215.70. 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 company has a 50-day moving average price of $182.16 and a two-hundred day moving average price of $166.56. The company has a market cap of $148.36 billion, a price-to-earnings ratio of 22.49, a PEG ratio of 2.06 and a beta of 1.70.

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

Applied Materials Dividend Announcement

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

Insider Activity at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 5,300 shares in the company, valued at approximately $946,580. The trade was a 9.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company's stock.

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.