Twin City Private Wealth LLC Has $800,000 Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Twin City Private Wealth LLC increased its holdings in Applied Materials, Inc. by 95.1% during the 1st quarter, acquiring an additional 2,687 shares, bringing its total to 5,511 shares worth approximately $800,000.
• Significant activity among hedge funds was noted, with multiple firms altering their investments, indicating strong interest in Applied Materials, which is currently owned 80.56% by institutional investors.
• The company disclosed a quarterly dividend of $0.46 per share, reflecting a 1.0% yield, to be paid to shareholders on September 11th, 2023; the ex-dividend date is August 21st.

Twin City Private Wealth LLC raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 95.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,511 shares of the manufacturing equipment provider's stock after acquiring an additional 2,687 shares during the quarter. Twin City Private Wealth LLC's holdings in Applied Materials were worth $800,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of AMAT. Runnymede Capital Advisors Inc. boosted its stake in shares of Applied Materials by 972.2% in the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after purchasing an additional 175 shares during the period. Smallwood Wealth Investment Management LLC bought a new stake in shares of Applied Materials in the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. acquired a new stake in Applied Materials during the fourth quarter valued at approximately $44,000. Costello Asset Management INC acquired a new stake in shares of Applied Materials during the 1st quarter valued at approximately $44,000. Finally, Minot DeBlois Advisors LLC bought a new position in shares of Applied Materials in the 4th quarter worth about $46,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Trading Up 0.9%

Shares of NASDAQ:AMAT traded up $1.72 during mid-day trading on Friday, reaching $184.87. The stock had a trading volume of 4,338,229 shares, compared to its average volume of 7,230,918. The firm has a 50 day simple moving average of $181.57 and a two-hundred day simple moving average of $166.81. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $215.70. The firm has a market cap of $148.36 billion, a PE ratio of 22.49, a price-to-earnings-growth 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 (NASDAQ:AMAT - Get Free Report) last posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share 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 analyst estimates of $7.12 billion. During the same period last year, the business posted $2.09 earnings per share. The business's revenue for the quarter was up 6.8% compared to the same quarter last year. On average, research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

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

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $946,580. The trade was a 9.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on AMAT shares. Wells Fargo & Company upped their price target on shares of Applied Materials from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Rothschild & Co Redburn downgraded shares of Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target for the company. in a report on Monday, July 7th. Morgan Stanley raised their price objective on Applied Materials from $158.00 to $169.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. decreased their price objective on shares of Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a research note on Friday, May 16th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Applied Materials in a research report on Friday, May 16th. Nine analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, Applied Materials currently has an average rating of "Moderate Buy" and an average price target of $204.09.

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.