44 Wealth Management LLC Boosts Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

44 Wealth Management LLC increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 10.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,148 shares of the manufacturing equipment provider’s stock after acquiring an additional 786 shares during the period. 44 Wealth Management LLC’s holdings in Applied Materials were worth $1,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMAT. Runnymede Capital Advisors Inc. boosted its stake in shares of Applied Materials by 972.2% in the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock valued at $28,000 after buying an additional 175 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in Applied Materials in the first quarter valued at approximately $29,000. Mascagni Wealth Management Inc. purchased a new position in Applied Materials in the fourth quarter worth approximately $44,000. Atala Financial Inc acquired a new position in Applied Materials during the 4th quarter worth approximately $45,000. Finally, Minot DeBlois Advisors LLC acquired a new position in Applied Materials during the 4th quarter worth approximately $46,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

NASDAQ AMAT opened at $190.86 on Friday. The firm has a market cap of $153.17 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.12 and a beta of 1.69. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.89. The business’s 50-day moving average price is $166.69 and its 200 day moving average price is $163.80. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. The company 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 40.15% and a net margin of 24.06%. The company’s revenue was up 6.8% on a year-over-year basis. During the same period last year, the business posted $2.09 EPS. On average, equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is presently 22.38%.

Applied Materials declared that its Board of Directors has initiated a share repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Applied Materials from $240.00 to $210.00 and set an “overweight” rating for the company in a research report on Friday, May 16th. Stifel Nicolaus decreased their price target on Applied Materials from $235.00 to $195.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a research report on Friday, March 28th. Raymond James Financial reissued an “outperform” rating and set a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Finally, Mizuho lowered their price target on Applied Materials from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $200.76.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the 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 transaction, the chief accounting officer directly owned 5,300 shares of the company’s stock, valued at $946,580. This represents a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.24% of the stock is currently owned by 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. 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.