Applied Materials, Inc. (NASDAQ:AMAT) Stake Lowered by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,498 shares of the manufacturing equipment provider's stock after selling 4,250 shares during the quarter. Mutual of America Capital Management LLC's holdings in Applied Materials were worth $13,714,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Runnymede Capital Advisors Inc. boosted its position in shares of Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after purchasing an additional 175 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in Applied Materials during the 1st quarter worth approximately $29,000. Mascagni Wealth Management Inc. acquired a new stake in Applied Materials during the 4th quarter worth approximately $44,000. Atala Financial Inc acquired a new stake in Applied Materials during the 4th quarter worth approximately $45,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in Applied Materials during the 4th quarter worth approximately $46,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMAT shares. The Goldman Sachs Group began coverage on Applied Materials in a research note on Thursday. They set a "buy" rating and a $225.00 target price for the company. Mizuho dropped their price target on Applied Materials from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. 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 report on Monday, May 12th. Wells Fargo & Company lifted their price objective on Applied Materials from $200.00 to $215.00 and gave the company an "overweight" rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen downgraded Applied Materials from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Nine 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, Applied Materials currently has an average rating of "Moderate Buy" and an average target price of $203.65.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the company's 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 owned 5,300 shares in the company, valued at $946,580. This represents a 9.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is owned by insiders.

Applied Materials Stock Down 0.1%

Shares of AMAT traded down $0.10 during midday trading on Friday, reaching $197.93. 4,423,891 shares of the company were exchanged, compared to its average volume of 7,116,318. 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, Inc. has a 1-year low of $123.74 and a 1-year high of $248.81. The stock has a 50-day moving average price of $171.91 and a 200-day moving average price of $164.95. The company has a market cap of $158.84 billion, a price-to-earnings ratio of 24.08, a P/E/G ratio of 2.20 and a beta of 1.69.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results 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. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. The company's revenue was up 6.8% compared to the same quarter last year. Research 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 declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is 22.38%.

Applied Materials 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.