Applied Materials, Inc. (NASDAQ:AMAT) Stake Reduced by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 9.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 44,414 shares of the manufacturing equipment provider’s stock after selling 4,400 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Applied Materials were worth $6,418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. M&R Capital Management Inc. increased its position in Applied Materials by 110.0% in the 2nd quarter. M&R Capital Management Inc. now owns 210 shares of the manufacturing equipment provider’s stock valued at $30,000 after acquiring an additional 110 shares during the period. GoalVest Advisory LLC grew its stake in shares of Applied Materials by 1,666.7% in the first quarter. GoalVest Advisory LLC now owns 212 shares of the manufacturing equipment provider’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. Chelsea Counsel Co. acquired a new position in shares of Applied Materials during the first quarter valued at $28,000. Steward Financial Group LLC raised its stake in shares of Applied Materials by 173.9% during the first quarter. Steward Financial Group LLC now owns 252 shares of the manufacturing equipment provider’s stock valued at $30,000 after purchasing an additional 160 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Applied Materials in the first quarter worth about $31,000. Institutional investors and hedge funds own 77.24% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT traded up $1.13 during trading hours on Thursday, reaching $145.71. 1,069,098 shares of the company traded hands, compared to its average volume of 5,984,931. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.59 and a current ratio of 2.30. The stock’s fifty day moving average is $144.93 and its 200 day moving average is $131.41. Applied Materials, Inc. has a 1-year low of $71.12 and a 1-year high of $155.26. The stock has a market cap of $122.33 billion, a P/E ratio of 19.07, a price-to-earnings-growth ratio of 3.10 and a beta of 1.60.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $1.90 EPS for the quarter, beating the consensus estimate of $1.74 by $0.16. Applied Materials had a return on equity of 49.29% and a net margin of 24.27%. The firm had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter in the prior year, the firm posted $1.94 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities research analysts anticipate that Applied Materials, Inc. will post 7.85 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Wednesday, November 22nd. Applied Materials’s payout ratio is 16.89%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Susquehanna lifted their price objective on shares of Applied Materials from $112.00 to $128.00 and gave the stock a “neutral” rating in a research report on Monday, August 21st. Craig Hallum upped their price target on Applied Materials from $139.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, August 18th. Needham & Company LLC downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Stifel Nicolaus lifted their target price on Applied Materials from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Finally, Redburn Partners started coverage on shares of Applied Materials in a research report on Tuesday, June 13th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.08.

Insider Activity

In other Applied Materials news, SVP Teri A. Little sold 10,000 shares of Applied Materials stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $142.00, for a total transaction of $1,420,000.00. Following the sale, the senior vice president now directly owns 69,504 shares of the company’s stock, valued at $9,869,568. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Brice Hill sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $150.04, for a total transaction of $150,040.00. Following the completion of the sale, the chief financial officer now owns 106,023 shares of the company’s stock, valued at $15,907,690.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Teri A. Little sold 10,000 shares of Applied Materials stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $142.00, for a total transaction of $1,420,000.00. Following the completion of the transaction, the senior vice president now owns 69,504 shares of the company’s stock, valued at approximately $9,869,568. The disclosure for this sale can be found here. 0.25% of the stock is owned by company 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. 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.