Rep. Marjorie Taylor Greene Buys Applied Materials, Inc. (NASDAQ:AMAT) Shares

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Applied Materials, Inc. (NASDAQ:AMAT). In a filing disclosed on October 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Applied Materials stock on October 4th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of ASML (NASDAQ:ASML) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Lam Research (NASDAQ:LRCX) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of JPMorgan Chase & Co. (NYSE:JPM) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 9/20/2024.
• Purchased $1,001 – $15,000 in shares of Cardinal Health (NYSE:CAH) on 9/20/2024.
• Purchased $1,001 – $15,000 in shares of United Parcel Service (NYSE:UPS) on 9/20/2024.

Applied Materials Stock Performance

NASDAQ:AMAT traded up $0.18 during trading hours on Thursday, reaching $184.77. The company had a trading volume of 5,532,458 shares, compared to its average volume of 6,081,527. The firm has a market cap of $152.98 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The business’s 50 day moving average price is $195.86 and its 200-day moving average price is $209.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the prior year, the company posted $1.90 EPS. The company’s quarterly revenue was up 5.5% on a year-over-year basis. Research analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Analyst Upgrades and Downgrades

AMAT has been the topic of a number of recent research reports. B. Riley dropped their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Citigroup lowered their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Wells Fargo & Company lowered their price objective on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating for the company in a research note on Thursday, October 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research note on Tuesday, October 8th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.14.

Hedge Funds Weigh In On Applied Materials

A number of institutional investors have recently made changes to their positions in AMAT. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials during the first quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials during the second quarter worth approximately $28,000. Clean Yield Group acquired a new stake in shares of Applied Materials in the third quarter valued at approximately $33,000. Finally, First PREMIER Bank raised its stake in shares of Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 124 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.