Kingsview Wealth Management LLC Has $1.32 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Kingsview Wealth Management LLC boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 30.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 16,045 shares of the manufacturing equipment provider’s stock after acquiring an additional 3,750 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Applied Materials were worth $1,315,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Disciplined Investments LLC boosted its stake in shares of Applied Materials by 53.2% during the third quarter. Disciplined Investments LLC now owns 337 shares of the manufacturing equipment provider’s stock valued at $28,000 after purchasing an additional 117 shares in the last quarter. Carolinas Wealth Consulting LLC boosted its stake in shares of Applied Materials by 55.0% during the third quarter. Carolinas Wealth Consulting LLC now owns 372 shares of the manufacturing equipment provider’s stock valued at $30,000 after purchasing an additional 132 shares in the last quarter. Emfo LLC acquired a new stake in shares of Applied Materials during the third quarter valued at about $32,000. Chilton Capital Management LLC acquired a new stake in shares of Applied Materials during the second quarter valued at about $40,000. Finally, Syverson Strege & Co boosted its stake in shares of Applied Materials by 28.9% during the second quarter. Syverson Strege & Co now owns 499 shares of the manufacturing equipment provider’s stock valued at $45,000 after purchasing an additional 112 shares in the last quarter. 75.22% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Applied Materials news, SVP Teri A. Little sold 6,813 shares of the business’s stock in a transaction on Tuesday, February 28th. The stock was sold at an average price of $117.44, for a total value of $800,118.72. Following the transaction, the senior vice president now owns 98,332 shares of the company’s stock, valued at $11,548,110.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, Director Xun Chen sold 377 shares of the company’s stock in a transaction on Friday, January 20th. The stock was sold at an average price of $107.80, for a total transaction of $40,640.60. Following the transaction, the director now owns 39,868 shares of the company’s stock, valued at approximately $4,297,770.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Teri A. Little sold 6,813 shares of the company’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $117.44, for a total value of $800,118.72. Following the transaction, the senior vice president now directly owns 98,332 shares in the company, valued at approximately $11,548,110.08. The disclosure for this sale can be found here. Insiders own 0.25% of the company’s stock.

Applied Materials Trading Up 3.9 %

NASDAQ AMAT opened at $120.34 on Wednesday. The company has a market cap of $101.70 billion, a price-to-earnings ratio of 16.13, a P/E/G ratio of 2.92 and a beta of 1.61. Applied Materials, Inc. has a 52 week low of $71.12 and a 52 week high of $142.01. The business has a 50 day moving average price of $113.58 and a 200-day moving average price of $101.15. The company has a quick ratio of 1.47, a current ratio of 2.31 and a debt-to-equity ratio of 0.41.

Applied Materials (NASDAQ:AMAT – Get Rating) last announced its earnings results on Thursday, February 16th. The manufacturing equipment provider reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.10. The company had revenue of $6.74 billion for the quarter, compared to analysts’ expectations of $6.66 billion. Applied Materials had a return on equity of 55.08% and a net margin of 24.57%. Applied Materials’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 earnings per share. As a group, equities analysts expect that Applied Materials, Inc. will post 7.01 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, May 25th will be given a $0.32 dividend. The ex-dividend date is Wednesday, May 24th. This represents a $1.28 annualized dividend and a yield of 1.06%. This is a boost from Applied Materials’s previous quarterly dividend of $0.26. Applied Materials’s payout ratio is currently 13.94%.

Analysts Set New Price Targets

A number of analysts have recently commented on AMAT shares. Cowen cut their price target on Applied Materials from $279.00 to $271.00 in a research note on Friday, February 24th. Cowen lifted their price objective on Applied Materials from $100.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday, November 18th. DA Davidson reaffirmed a “buy” rating on shares of Applied Materials in a research note on Tuesday, January 3rd. Wells Fargo & Company lifted their price objective on Applied Materials from $130.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, February 17th. Finally, Summit Insights raised Applied Materials from a “hold” rating to a “buy” rating in a research note on Friday, November 18th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $129.16.

About Applied Materials

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Applied Materials, Inc provides manufacturing equipment, services and software to the semiconductor, display and related industries. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.