Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Wealthcare Advisory Partners LLC

Wealthcare Advisory Partners LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 4,231 shares of the manufacturing equipment provider’s stock after selling 116 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Applied Materials were worth $614,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. FPC Investment Advisory Inc. acquired a new position in Applied Materials during the 4th quarter worth about $28,000. Mascagni Wealth Management Inc. acquired a new position in Applied Materials during the 4th quarter worth about $44,000. Atala Financial Inc acquired a new position in Applied Materials during the 4th quarter worth about $45,000. Minot DeBlois Advisors LLC acquired a new position in Applied Materials during the 4th quarter worth about $46,000. Finally, Centricity Wealth Management LLC acquired a new position in Applied Materials during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Down 2.5%

NASDAQ:AMAT opened at $170.59 on Friday. The stock’s 50 day moving average price is $156.02 and its 200 day moving average price is $163.20. The company has a market capitalization of $136.90 billion, a PE ratio of 22.30, a P/E/G ratio of 1.81 and a beta of 1.67. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. The firm’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.09 EPS. On average, research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has authorized a stock buyback program on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its stock is undervalued.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.46 dividend. The ex-dividend date is Thursday, August 21st. This represents a $1.84 annualized dividend and a dividend yield of 1.08%. Applied Materials’s dividend payout ratio (DPR) is currently 22.38%.

Insider Activity

In other Applied Materials news, CEO Gary E. Dickerson purchased 50,000 shares of Applied Materials stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now directly owns 1,716,058 shares of the company’s stock, valued at $235,614,763.40. This represents a 3.00% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total value of $65,173.50. Following the transaction, the chief accounting officer now directly owns 6,077 shares of the company’s stock, valued at approximately $880,131.91. This represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMAT shares. Wells Fargo & Company reissued a “mixed” rating on shares of Applied Materials in a research note on Friday, May 16th. B. Riley reduced their price target on Applied Materials from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Mizuho reduced their price target on Applied Materials from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, May 16th. Cantor Fitzgerald reduced their price target on Applied Materials from $220.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Finally, Bank of America reduced their price target on Applied Materials from $205.00 to $190.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $199.29.

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.