Spirepoint Private Client LLC cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 58.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,567 shares of the manufacturing equipment provider's stock after selling 2,189 shares during the period. Spirepoint Private Client LLC's holdings in Applied Materials were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Norges Bank acquired a new position in Applied Materials during the fourth quarter valued at $1,588,422,000. GAMMA Investing LLC raised its position in shares of Applied Materials by 18,402.1% in the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider's stock worth $2,647,430,000 after acquiring an additional 1,814,444 shares during the period. Northern Trust Corp raised its position in shares of Applied Materials by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider's stock worth $1,663,780,000 after acquiring an additional 1,602,645 shares during the period. Kovitz Investment Group Partners LLC raised its position in shares of Applied Materials by 301.6% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock worth $318,754,000 after acquiring an additional 1,471,953 shares during the period. Finally, Two Sigma Investments LP raised its position in shares of Applied Materials by 10,767.6% in the fourth quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock worth $219,157,000 after acquiring an additional 1,335,180 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.
Applied Materials Trading Down 0.2%
Shares of AMAT stock traded down $0.31 during trading hours on Friday, hitting $183.21. The company had a trading volume of 14,201,548 shares, compared to its average volume of 7,056,229. The company's fifty day moving average is $163.08 and its 200 day moving average is $163.27. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.89. The stock has a market capitalization of $147.03 billion, a PE ratio of 22.29, a price-to-earnings-growth ratio of 2.04 and a beta of 1.67.
Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly earnings data 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 net margin of 24.06% and a return on equity of 40.15%. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the business posted $2.09 EPS. The business's revenue for the quarter 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 fiscal 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 issued a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a yield of 1.00%. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.
Applied Materials declared that its board has approved a share buyback plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
A number of research firms have recently commented on AMAT. Bank of America cut their target price on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. B. Riley dropped their price objective on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a research note on Monday, May 12th. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Applied Materials in a research note on Friday, May 16th. Stifel Nicolaus dropped their price objective 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, Barclays dropped their price objective on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $200.24.
Check Out Our Latest Analysis on AMAT
Insider Buying and Selling at Applied Materials
In other Applied Materials news, CAO Adam Sanders sold 450 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the sale, the chief accounting officer now directly owns 6,077 shares of the company's stock, valued at approximately $880,131.91. This represents a 6.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gary E. Dickerson acquired 50,000 shares of the company's stock in a transaction on Thursday, April 3rd. The stock was purchased at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the transaction, the chief executive officer now owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. The trade was a 3.00% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.24% of the company's stock.
Applied Materials Profile
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Free Report)
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.
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