Applied Materials, Inc. (NASDAQ:AMAT) Holdings Raised by Rathbones Group PLC

Key Points

• Rathbones Group PLC increased its holdings in Applied Materials, Inc. by 13.2% in the first quarter, owning 129,260 shares worth approximately $18.76 million.
• Applied Materials reported $2.39 earnings per share (EPS), exceeding analysts' estimates of $2.31, and had a revenue of $7.10 billion for the latest quarter, up 6.8% year-over-year.
• The company announced a quarterly dividend of $0.46 per share, with the payout reflecting a 1.0% dividend yield and a payout ratio of 22.38%.

Rathbones Group PLC boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 13.2% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 129,260 shares of the manufacturing equipment provider's stock after buying an additional 15,044 shares during the quarter. Rathbones Group PLC's holdings in Applied Materials were worth $18,757,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Callan Family Office LLC lifted its stake in Applied Materials by 7.3% in the 1st quarter. Callan Family Office LLC now owns 7,291 shares of the manufacturing equipment provider's stock valued at $1,058,000 after buying an additional 493 shares in the last quarter. Bulltick Wealth Management LLC acquired a new position in Applied Materials in the 1st quarter valued at $990,000. HighTower Advisors LLC raised its holdings in Applied Materials by 5.1% in the 1st quarter. HighTower Advisors LLC now owns 488,513 shares of the manufacturing equipment provider's stock valued at $70,893,000 after acquiring an additional 23,645 shares during the last quarter. Nuance Investments LLC raised its holdings in Applied Materials by 135.9% in the 1st quarter. Nuance Investments LLC now owns 101,811 shares of the manufacturing equipment provider's stock valued at $14,775,000 after acquiring an additional 58,657 shares during the last quarter. Finally, Taylor Hoffman Capital Management LLC raised its holdings in Applied Materials by 1.0% in the 1st quarter. Taylor Hoffman Capital Management LLC now owns 45,871 shares of the manufacturing equipment provider's stock valued at $6,682,000 after acquiring an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Stock Performance

AMAT traded down $26.48 on Friday, hitting $161.76. 31,753,938 shares of the company's stock were exchanged, compared to its average volume of 6,199,587. The firm has a market cap of $129.81 billion, a PE ratio of 19.28, a P/E/G ratio of 2.10 and a beta of 1.70. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $215.70. The stock has a fifty day moving average of $184.18 and a two-hundred day moving average of $166.71. 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 (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The manufacturing equipment provider reported $2.48 EPS for the quarter, beating the consensus estimate of $2.36 by $0.12. Applied Materials had a net margin of 23.88% and a return on equity of 41.31%. The company had revenue of $7.30 billion for the quarter, compared to analyst estimates of $7.21 billion. During the same quarter last year, the business earned $2.12 earnings per share. Applied Materials's revenue was up 7.7% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is currently 21.93%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price target on Applied Materials from $200.00 to $170.00 and set a "hold" rating for the company in a report on Friday. TD Cowen cut their price target on Applied Materials from $220.00 to $200.00 and set a "buy" rating for the company in a report on Friday. Mizuho cut their price target on Applied Materials from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Friday. Redburn Atlantic downgraded Applied Materials from a "strong-buy" rating to a "hold" rating and cut their price target for the company from $225.00 to $200.00 in a report on Monday, July 7th. Finally, Barclays boosted their price target on Applied Materials from $160.00 to $170.00 and gave the company an "equal weight" rating in a report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $194.84.

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the firm'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 transaction of $100,373.20. Following the transaction, the chief accounting officer owned 5,300 shares in the company, valued at $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

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.