Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Thoroughbred Financial Services LLC

Key Points

• Thoroughbred Financial Services LLC reduced its holdings in Applied Materials, Inc. by 8.7%, selling 1,419 shares during the first quarter, resulting in ownership of 14,812 shares worth approximately $2.15 million.
• Applied Materials recently announced a quarterly dividend of $0.46, payable on September 11th, representing an annualized dividend of $1.84 and a yield of 1.0%.
• The company reported quarterly earnings of $2.39 EPS, exceeding estimates, with revenue of $7.10 billion, showing a year-over-year increase of 6.8%.

Thoroughbred Financial Services LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 8.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,812 shares of the manufacturing equipment provider's stock after selling 1,419 shares during the period. Thoroughbred Financial Services LLC's holdings in Applied Materials were worth $2,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Skye Global Management LP bought a new stake in shares of Applied Materials in the fourth quarter worth about $45,862,000. Value Partners Investments Inc. grew its holdings in Applied Materials by 8.7% during the 4th quarter. Value Partners Investments Inc. now owns 9,896 shares of the manufacturing equipment provider's stock valued at $1,608,000 after buying an additional 793 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. bought a new stake in Applied Materials in the 1st quarter worth approximately $230,000. Townsquare Capital LLC raised its holdings in shares of Applied Materials by 15.6% during the 4th quarter. Townsquare Capital LLC now owns 71,577 shares of the manufacturing equipment provider's stock worth $11,640,000 after acquiring an additional 9,672 shares in the last quarter. Finally, Humankind Investments LLC boosted its position in shares of Applied Materials by 28.2% during the 4th quarter. Humankind Investments LLC now owns 1,503 shares of the manufacturing equipment provider's stock valued at $244,000 after acquiring an additional 331 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMAT has been the subject of several research reports. Raymond James Financial reiterated an "outperform" rating and set a $200.00 price objective (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Needham & Company LLC reiterated a "buy" rating and issued a $195.00 price target on shares of Applied Materials in a research report on Friday, May 16th. TD Cowen decreased their price objective on Applied Materials from $225.00 to $220.00 and set a "buy" rating on the stock in a research report on Friday, May 16th. B. Riley dropped their target price on Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a report on Monday, May 12th. Finally, Redburn Atlantic lowered Applied Materials from a "strong-buy" rating to a "hold" rating and decreased their price target for the company from $225.00 to $200.00 in a report on Monday, July 7th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $204.09.

Applied Materials Stock Up 0.9%

Shares of AMAT traded up $1.72 during midday trading on Friday, reaching $184.87. 4,338,229 shares of the stock were exchanged, compared to its average volume of 7,230,918. The company has a market capitalization of $148.36 billion, a P/E ratio of 22.49, a PEG ratio of 1.98 and a beta of 1.70. 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 52 week low of $123.74 and a 52 week high of $215.70. The company's 50 day moving average is $181.57 and its two-hundred day moving average is $166.81.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (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 company had revenue of $7.10 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same period in the prior year, the business earned $2.09 EPS. The firm's quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is 22.38%.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the transaction, the chief accounting officer directly owned 5,300 shares of the company's stock, valued at approximately $946,580. The trade was a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.24% of the company's stock.

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.