Ramirez Asset Management Inc. Sells 2,191 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Ramirez Asset Management Inc. reduced its holdings in Applied Materials, Inc. by 28.4%, selling 2,191 shares to own a total of 5,513 shares valued at $800,000.
• Institutional investors now own approximately 80.56% of Applied Materials, with several firms increasing their positions significantly in the last quarter, including Geode Capital Management LLC, which raised its stake by 1.3%.
• Applied Materials recently announced a quarterly dividend of $0.46 per share, scheduled to be paid to investors on September 11th, representing a 0.97% annual yield.

Ramirez Asset Management Inc. reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 28.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,513 shares of the manufacturing equipment provider's stock after selling 2,191 shares during the period. Ramirez Asset Management Inc.'s holdings in Applied Materials were worth $800,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Runnymede Capital Advisors Inc. increased its stake in shares of Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock worth $28,000 after purchasing an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new stake in Applied Materials during the first quarter worth approximately $29,000. Mascagni Wealth Management Inc. acquired a new stake in Applied Materials during the fourth quarter worth approximately $44,000. Minot DeBlois Advisors LLC acquired a new stake in Applied Materials during the fourth quarter worth approximately $46,000. Finally, Park Square Financial Group LLC acquired a new stake in Applied Materials during the fourth quarter worth approximately $55,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Up 0.1%

Shares of NASDAQ AMAT traded up $0.15 during midday trading on Friday, reaching $180.21. 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. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $215.70. The stock has a market capitalization of $144.62 billion, a price-to-earnings ratio of 21.91, a PEG ratio of 2.11 and a beta of 1.69. The stock has a 50 day simple moving average of $179.46 and a 200-day simple moving average of $166.95.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the company earned $2.09 earnings per share. The firm's revenue was up 6.8% compared to the same quarter last year. Equities research 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. Investors of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, August 21st. Applied Materials's payout ratio is presently 22.38%.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total transaction of $100,373.20. Following 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on AMAT shares. Barclays raised their target price on shares of Applied Materials from $160.00 to $170.00 and gave the stock an "equal weight" rating in a research report on Monday. Raymond James Financial reaffirmed an "outperform" rating and set a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Morgan Stanley boosted their target price on shares of Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. B. Riley decreased their price target on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, May 12th. Finally, Citigroup boosted 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 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, Applied Materials presently has a consensus rating of "Moderate Buy" and a consensus target price of $205.17.

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.