UNIVEST FINANCIAL Corp Sells 13,478 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• UNIVEST FINANCIAL Corp reduced its stake in Applied Materials, Inc. by 13.4%, now holding 87,284 shares valued at approximately $12.67 million.
• Institutional investors own 80.56% of Applied Materials' stock, with several firms increasing their holdings significantly, including an 18.6% increase by Northern Trust Corp.
• Applied Materials announced a quarterly dividend of $0.46 per share, with an annualized yield of 1.0%, highlighting a dividend payout ratio of 22.38%.

UNIVEST FINANCIAL Corp lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 13.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,284 shares of the manufacturing equipment provider's stock after selling 13,478 shares during the quarter. Applied Materials accounts for approximately 0.8% of UNIVEST FINANCIAL Corp's portfolio, making the stock its 26th largest position. UNIVEST FINANCIAL Corp's holdings in Applied Materials were worth $12,667,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Runnymede Capital Advisors Inc. grew its stake in shares of Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock worth $28,000 after acquiring an additional 175 shares in the last quarter. Smallwood Wealth Investment Management LLC bought a new stake in shares of Applied Materials in the 1st quarter worth $29,000. Mascagni Wealth Management Inc. bought a new stake in shares of Applied Materials in the 4th quarter worth $44,000. Minot DeBlois Advisors LLC bought a new stake in shares of Applied Materials in the 4th quarter worth $46,000. Finally, N.E.W. Advisory Services LLC bought a new stake in shares of Applied Materials in the 1st quarter worth $51,000. Institutional investors own 80.56% of the company's stock.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is owned by insiders.

Applied Materials Price Performance

AMAT traded down $0.07 on Friday, reaching $179.99. The company had a trading volume of 8,391,962 shares, compared to its average volume of 5,876,455. The business has a 50 day simple moving average of $179.91 and a 200 day simple moving average of $166.99. The company has a market cap of $144.44 billion, a price-to-earnings ratio of 21.90, a P/E/G ratio of 2.00 and a beta of 1.70. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $215.70.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period last year, the firm posted $2.09 earnings per share. Applied Materials's quarterly revenue was up 6.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Thursday, August 21st. Applied Materials's dividend payout ratio (DPR) is presently 22.38%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on AMAT. Cantor Fitzgerald set a $220.00 price target on shares of Applied Materials and gave the company an "overweight" rating in a research report on Tuesday, June 24th. TD Cowen reduced their price target on shares of Applied Materials from $225.00 to $220.00 and set a "buy" rating for the company in a research report on Friday, May 16th. Mizuho increased their price target on shares of Applied Materials from $195.00 to $220.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. Raymond James Financial restated an "outperform" rating and set a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Finally, Stifel Nicolaus reduced their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Nine equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $205.17.

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.