KG&L Capital Management LLC Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

KG&L Capital Management LLC lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 5.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,014 shares of the manufacturing equipment provider’s stock after buying an additional 808 shares during the quarter. KG&L Capital Management LLC’s holdings in Applied Materials were worth $2,324,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Runnymede Capital Advisors Inc. boosted its stake in Applied Materials by 972.2% in 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 in the last quarter. Mascagni Wealth Management Inc. bought a new position in shares of Applied Materials in the fourth quarter worth approximately $44,000. Atala Financial Inc bought a new position in shares of Applied Materials in the fourth quarter worth approximately $45,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $46,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Applied Materials during the fourth quarter valued at approximately $48,000. 80.56% of the stock is currently owned by institutional investors.

Insider Transactions at Applied Materials

In related news, CEO Gary E. Dickerson acquired 50,000 shares of the stock in a transaction on Thursday, April 3rd. The stock was bought at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the transaction, the chief executive officer now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This represents a 3.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Adam Sanders sold 562 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the sale, the chief accounting officer now directly owns 5,300 shares of the company’s stock, valued at approximately $946,580. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

Applied Materials Trading Up 1.6%

Shares of AMAT opened at $183.07 on Thursday. The stock has a market capitalization of $146.91 billion, a PE ratio of 22.27, a P/E/G ratio of 2.01 and a beta of 1.67. The company’s fifty day moving average is $161.25 and its 200 day moving average is $163.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.76 and a current ratio of 2.46. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $7.12 billion. During the same period in the previous year, the firm posted $2.09 EPS. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its Board of Directors has authorized a stock buyback program on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.01%. The ex-dividend date is Thursday, August 21st. Applied Materials’s dividend payout ratio is currently 22.38%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Jefferies Financial Group upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a research note on Friday, March 28th. B. Riley lowered their price target on Applied Materials from $250.00 to $215.00 and set a “buy” rating on the stock in a report on Monday, May 12th. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Applied Materials in a report on Friday, May 16th. Morgan Stanley upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and lowered their target price for the company from $162.00 to $158.00 in a research note on Friday, June 6th. Finally, Wall Street Zen lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $200.24.

Applied Materials 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.