Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Howard Capital Management Inc.

Howard Capital Management Inc. cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 13.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,777 shares of the manufacturing equipment provider’s stock after selling 3,642 shares during the period. Howard Capital Management Inc.’s holdings in Applied Materials were worth $3,451,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAT. Belpointe Asset Management LLC grew its holdings in shares of Applied Materials by 1.7% during the fourth quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider’s stock worth $607,000 after buying an additional 62 shares in the last quarter. Old Port Advisors boosted its position in shares of Applied Materials by 2.5% in the first quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider’s stock worth $396,000 after acquiring an additional 66 shares during the last quarter. Silver Oak Securities Incorporated increased its position in shares of Applied Materials by 4.7% in the first quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider’s stock worth $218,000 after acquiring an additional 68 shares in the last quarter. Cromwell Holdings LLC increased its holdings in Applied Materials by 2.8% in the 1st quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider’s stock valued at $369,000 after purchasing an additional 69 shares in the last quarter. Finally, TCTC Holdings LLC grew its holdings in Applied Materials by 7.2% during the 1st quarter. TCTC Holdings LLC now owns 1,047 shares of the manufacturing equipment provider’s stock valued at $152,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on AMAT shares. TD Cowen lowered their price target on Applied Materials from $225.00 to $220.00 and set a “buy” rating on the stock in a report on Friday, May 16th. Barclays raised their target price on shares of Applied Materials from $160.00 to $170.00 and gave the stock an “equal weight” rating in a report on Monday. Stifel Nicolaus dropped their price target on Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. The Goldman Sachs Group started coverage on shares of Applied Materials in a research report on Thursday, July 10th. They issued a “buy” rating and a $225.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on Applied Materials from $200.00 to $215.00 and gave the company an “overweight” rating in a research note on Tuesday, July 8th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $205.17.

Applied Materials Price Performance

AMAT opened at $188.41 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The stock has a market capitalization of $151.20 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 2.12 and a beta of 1.69. The company’s 50 day simple moving average is $178.53 and its 200-day simple moving average is $166.73. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $215.70.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $2.09 EPS. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is 22.38%.

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value 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 approximately $946,580. The trade was a 9.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.

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.