Stiles Financial Services Inc Buys 1,494 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Stiles Financial Services Inc grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 24.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,627 shares of the manufacturing equipment provider's stock after buying an additional 1,494 shares during the period. Stiles Financial Services Inc's holdings in Applied Materials were worth $1,107,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Applied Materials in the 4th quarter worth about $1,588,422,000. GAMMA Investing LLC boosted its stake 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 valued at $2,647,430,000 after buying an additional 1,814,444 shares during the period. Northern Trust Corp grew its position in Applied Materials by 18.6% during 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 buying an additional 1,602,645 shares in the last quarter. Kovitz Investment Group Partners LLC increased its stake in Applied Materials by 301.6% during the 4th 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 holdings in Applied Materials by 10,767.6% in the 4th quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock valued at $219,157,000 after acquiring an additional 1,335,180 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on AMAT shares. Bank of America reduced their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. 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 report on Friday, May 16th. Stifel Nicolaus reduced their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen downgraded shares of Applied Materials from a "buy" rating to a "hold" rating in a research report on Saturday, June 14th. Finally, TD Cowen reduced their target price on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $200.24.

Applied Materials Trading Up 4.8%

NASDAQ AMAT traded up $8.22 on Tuesday, reaching $180.18. The company had a trading volume of 7,246,569 shares, compared to its average volume of 7,009,797. The firm has a market cap of $144.59 billion, a price-to-earnings ratio of 21.92, a P/E/G ratio of 1.91 and a beta of 1.67. 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 business has a 50 day moving average of $160.35 and a two-hundred day moving average of $163.00.

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, beating analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The business's revenue was up 6.8% on a year-over-year basis. Analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio is currently 22.38%.

Applied Materials announced that its Board of Directors has approved a share repurchase plan on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Applied Materials news, CEO Gary E. Dickerson bought 50,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Adam Sanders sold 450 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction 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 trade represents a 6.89% decrease in their position. The disclosure for this sale can be found here. 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.