Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Patton Albertson Miller Group LLC

Patton Albertson Miller Group LLC boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,686 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,177 shares during the period. Patton Albertson Miller Group LLC’s holdings in Applied Materials were worth $5,034,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Runnymede Capital Advisors Inc. raised its position in shares of Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock worth $28,000 after purchasing an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of Applied Materials during the 1st quarter worth about $29,000. Mascagni Wealth Management Inc. acquired a new position in shares of Applied Materials during the 4th quarter worth about $44,000. Minot DeBlois Advisors LLC acquired a new position in shares of Applied Materials during the 4th quarter worth about $46,000. Finally, Park Square Financial Group LLC acquired a new position in shares of Applied Materials during the 4th quarter worth about $55,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AMAT has been the subject of several research reports. B. Riley dropped their price objective on shares of Applied Materials from $250.00 to $215.00 and set a “buy” rating for the company in a research note on Monday, May 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Applied Materials in a research note on Friday, May 16th. Bank of America dropped their price objective on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, Jefferies Financial Group raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a research note on Friday, March 28th. Nine analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $204.74.

Applied Materials Price Performance

Shares of AMAT opened at $192.52 on Friday. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $224.09. The firm’s fifty day simple moving average is $175.19 and its 200-day simple moving average is $165.79. The firm has a market capitalization of $154.50 billion, a price-to-earnings ratio of 23.42, a PEG ratio of 2.17 and a beta of 1.69. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period last year, the business earned $2.09 EPS. Applied Materials’s revenue for the quarter was up 6.8% compared to the same quarter last year. Equities analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 0.96%. Applied Materials’s dividend payout ratio is currently 22.38%.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction 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 sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.24% of the stock is owned by corporate insiders.

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.