Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Wealth Alliance

Wealth Alliance trimmed its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 7.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,824 shares of the manufacturing equipment provider’s stock after selling 156 shares during the quarter. Wealth Alliance’s holdings in Applied Materials were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. California Public Employees Retirement System lifted its stake in shares of Applied Materials by 0.3% in the third quarter. California Public Employees Retirement System now owns 2,161,556 shares of the manufacturing equipment provider’s stock worth $299,267,000 after buying an additional 6,466 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Applied Materials by 9.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 830,038 shares of the manufacturing equipment provider’s stock worth $114,919,000 after purchasing an additional 69,388 shares during the last quarter. New England Research & Management Inc. bought a new stake in shares of Applied Materials in the 3rd quarter worth about $433,000. Claro Advisors LLC grew its holdings in shares of Applied Materials by 8.3% in the 2nd quarter. Claro Advisors LLC now owns 5,370 shares of the manufacturing equipment provider’s stock worth $776,000 after purchasing an additional 411 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in Applied Materials by 26.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,068,445 shares of the manufacturing equipment provider’s stock worth $147,926,000 after buying an additional 223,984 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of research reports. JPMorgan Chase & Co. upped their target price on shares of Applied Materials from $165.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, November 17th. Redburn Atlantic upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating and set a $175.00 target price on the stock in a report on Wednesday, November 22nd. Cantor Fitzgerald assumed coverage on shares of Applied Materials in a report on Tuesday, January 23rd. They set a “neutral” rating and a $180.00 target price on the stock. StockNews.com upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Saturday, October 21st. Finally, TD Cowen lifted their price objective on shares of Applied Materials from $165.00 to $185.00 and gave the company an “outperform” rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and an average price target of $167.92.

Check Out Our Latest Research Report on Applied Materials

Insider Activity

In related news, SVP Omkaram Nalamasu sold 23,228 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $162.45, for a total value of $3,773,388.60. Following the completion of the transaction, the senior vice president now owns 190,972 shares of the company’s stock, valued at $31,023,401.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by company insiders.

Applied Materials Trading Up 6.9 %

AMAT stock opened at $185.84 on Monday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.60 and a quick ratio of 1.82. The company has a fifty day moving average price of $160.18 and a two-hundred day moving average price of $149.49. Applied Materials, Inc. has a one year low of $109.00 and a one year high of $186.15. The stock has a market cap of $154.63 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 3.67 and a beta of 1.55.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its earnings results on Thursday, November 16th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.14. The company had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.52 billion. Applied Materials had a net margin of 25.85% and a return on equity of 46.12%. Applied Materials’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.03 earnings per share. Equities analysts anticipate that Applied Materials, Inc. will post 7.61 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Stockholders of record on Thursday, February 22nd will be given a $0.32 dividend. The ex-dividend date is Wednesday, February 21st. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.69%. Applied Materials’s payout ratio is presently 15.78%.

Applied Materials Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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