Royal Harbor Partners LLC lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 19.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,778 shares of the manufacturing equipment provider’s stock after selling 2,593 shares during the period. Applied Materials accounts for 1.1% of Royal Harbor Partners LLC’s portfolio, making the stock its 23rd largest holding. Royal Harbor Partners LLC’s holdings in Applied Materials were worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in AMAT. HighPoint Advisor Group LLC lifted its position in Applied Materials by 127.5% during the 1st quarter. HighPoint Advisor Group LLC now owns 11,802 shares of the manufacturing equipment provider’s stock worth $1,639,000 after acquiring an additional 6,615 shares during the last quarter. Investment Counsel Inc. increased its stake in shares of Applied Materials by 13.0% in the first quarter. Investment Counsel Inc. now owns 10,450 shares of the manufacturing equipment provider’s stock worth $1,396,000 after purchasing an additional 1,200 shares during the period. E&G Advisors LP lifted its position in shares of Applied Materials by 1.9% during the 1st quarter. E&G Advisors LP now owns 6,604 shares of the manufacturing equipment provider’s stock worth $882,000 after purchasing an additional 120 shares during the last quarter. Huntington National Bank boosted its stake in Applied Materials by 292.5% during the 1st quarter. Huntington National Bank now owns 270,946 shares of the manufacturing equipment provider’s stock valued at $36,199,000 after purchasing an additional 201,922 shares during the period. Finally, FNY Investment Advisers LLC acquired a new stake in Applied Materials in the 1st quarter valued at approximately $651,000. 78.80% of the stock is currently owned by institutional investors.
In other news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $131.95, for a total value of $1,979,250.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Prabu G. Raja sold 50,000 shares of Applied Materials stock in a transaction that occurred on Thursday, April 8th. The shares were sold at an average price of $140.95, for a total transaction of $7,047,500.00. The disclosure for this sale can be found here. Insiders sold 170,184 shares of company stock valued at $23,752,510 in the last quarter. 0.41% of the stock is currently owned by corporate insiders.
NASDAQ AMAT traded down $3.97 during trading on Monday, reaching $134.94. 548,085 shares of the company traded hands, compared to its average volume of 9,492,702. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.12 and a current ratio of 3.00. The stock’s 50 day moving average price is $121.57 and its two-hundred day moving average price is $92.11. The company has a market cap of $123.83 billion, a price-to-earnings ratio of 35.44, a P/E/G ratio of 2.06 and a beta of 1.48. Applied Materials, Inc. has a 1-year low of $46.22 and a 1-year high of $146.00.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. The company had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $4.98 billion. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. During the same period in the previous year, the business earned $0.98 earnings per share. Equities research analysts expect that Applied Materials, Inc. will post 4.97 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 27th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, May 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.71%. This is a boost from Applied Materials’s previous quarterly dividend of $0.22. Applied Materials’s payout ratio is 21.10%.
A number of brokerages have recently commented on AMAT. Stifel Nicolaus upped their price target on Applied Materials from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, April 5th. Cowen increased their price target on shares of Applied Materials from $140.00 to $160.00 and gave the company an “outperform” rating in a report on Wednesday, April 7th. Credit Suisse Group boosted their price objective on shares of Applied Materials from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday, April 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Applied Materials from $140.00 to $150.00 in a research note on Tuesday, April 6th. Finally, Craig Hallum upped their price target on Applied Materials from $142.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, April 7th. Five equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Applied Materials has a consensus rating of “Buy” and an average price target of $140.36.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
Further Reading: Cost of Equity
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