Verdence Capital Advisors LLC Purchases 14,440 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Verdence Capital Advisors LLC raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 53.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,306 shares of the manufacturing equipment provider's stock after acquiring an additional 14,440 shares during the period. Verdence Capital Advisors LLC's holdings in Applied Materials were worth $5,994,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Legacy Capital Wealth Partners LLC raised its stake in shares of Applied Materials by 19.2% in the 1st quarter. Legacy Capital Wealth Partners LLC now owns 2,988 shares of the manufacturing equipment provider's stock worth $434,000 after buying an additional 481 shares in the last quarter. Allen Capital Group LLC raised its stake in shares of Applied Materials by 13.8% in the 1st quarter. Allen Capital Group LLC now owns 1,558 shares of the manufacturing equipment provider's stock worth $226,000 after buying an additional 189 shares in the last quarter. Shayne & Jacobs LLC raised its stake in shares of Applied Materials by 3.8% in the 1st quarter. Shayne & Jacobs LLC now owns 22,520 shares of the manufacturing equipment provider's stock worth $3,268,000 after buying an additional 815 shares in the last quarter. Grandfield & Dodd LLC raised its stake in shares of Applied Materials by 7.6% in the 1st quarter. Grandfield & Dodd LLC now owns 222,158 shares of the manufacturing equipment provider's stock worth $32,240,000 after buying an additional 15,648 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Applied Materials by 40.8% in the 1st quarter. Victory Capital Management Inc. now owns 1,406,235 shares of the manufacturing equipment provider's stock worth $204,073,000 after buying an additional 407,364 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

Applied Materials Price Performance

Shares of AMAT traded down $2.08 during mid-day trading on Friday, reaching $190.44. The company had a trading volume of 4,756,141 shares, compared to its average volume of 7,116,167. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $224.09. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The company's 50-day moving average is $175.89 and its 200-day moving average is $165.98. The company has a market capitalization of $152.83 billion, a P/E ratio of 23.17, a P/E/G ratio of 2.14 and a beta of 1.69.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data 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. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business's quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. On average, equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a $0.46 dividend. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.97%. Applied Materials's dividend payout ratio is 22.38%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Stifel Nicolaus lowered their price target on Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Bank of America lowered their price target on Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen downgraded Applied Materials from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Rothschild & Co Redburn downgraded Applied Materials from a "buy" rating to a "neutral" rating and set a $200.00 price target on the stock. in a report on Monday, July 7th. Finally, Cantor Fitzgerald set a $220.00 target price on Applied Materials and gave the company an "overweight" rating in a research note on Tuesday, June 24th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $204.74.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the sale, the chief accounting officer owned 5,300 shares of the company's stock, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

About Applied Materials

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.