Vision Capital Management Inc. Boosts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Vision Capital Management Inc. increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 32.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,391 shares of the manufacturing equipment provider's stock after buying an additional 2,816 shares during the period. Vision Capital Management Inc.'s holdings in Applied Materials were worth $1,653,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of AMAT. Norges Bank bought a new position in Applied Materials during the fourth quarter worth $1,588,422,000. GAMMA Investing LLC raised its stake in Applied Materials by 18,402.1% during the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider's stock worth $2,647,430,000 after buying an additional 1,814,444 shares during the last quarter. Northern Trust Corp raised its stake 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 during the last quarter. Kovitz Investment Group Partners LLC raised its stake in Applied Materials by 301.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock worth $318,754,000 after buying an additional 1,471,953 shares during the last quarter. Finally, Two Sigma Investments LP raised its stake in Applied Materials by 10,767.6% during the fourth quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider's stock worth $219,157,000 after buying an additional 1,335,180 shares during the last quarter. Institutional investors own 80.56% of the company's stock.

Applied Materials Stock Down 0.1%

Shares of Applied Materials stock traded down $0.10 during trading on Friday, hitting $197.93. The company's stock had a trading volume of 4,423,891 shares, compared to its average volume of 7,116,318. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. The company has a fifty day simple moving average of $171.91 and a two-hundred day simple moving average of $164.98. The company has a market capitalization of $158.84 billion, a PE ratio of 24.08, a P/E/G ratio of 2.20 and a beta of 1.69. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $248.81.

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

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's payout ratio is presently 22.38%.

Wall Street Analyst Weigh In

Several research firms have weighed in on AMAT. 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 research note on Monday, July 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price target on shares of Applied Materials in a research note on Friday, May 16th. Wells Fargo & Company boosted their target price on shares of Applied Materials from $200.00 to $215.00 and gave the stock an "overweight" rating in a research report on Tuesday. Jefferies Financial Group raised shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price for the company in a research report on Friday, March 28th. Finally, B. Riley decreased their target price on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, Applied Materials presently has an average rating of "Moderate Buy" and a consensus target price of $203.65.

Insider Activity

In related news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is currently owned by 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.