Everence Capital Management Inc. Takes Position in Applied Materials, Inc. (NASDAQ:AMAT)


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Everence Capital Management Inc. purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,796 shares of the manufacturing equipment provider’s stock, valued at approximately $3,046,000.

Other institutional investors also recently made changes to their positions in the company. Prestige Wealth Management Group LLC grew its holdings in Applied Materials by 42.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock worth $25,000 after buying an additional 88 shares in the last quarter. Key Financial Inc purchased a new position in Applied Materials in the fourth quarter worth $26,000. Curi Capital purchased a new position in Applied Materials in the fourth quarter worth $31,000. Addison Advisors LLC purchased a new position in Applied Materials in the fourth quarter worth $38,000. Finally, Cowa LLC purchased a new position in Applied Materials in the fourth quarter worth $46,000. Institutional investors and hedge funds own 78.80% of the company’s stock.

NASDAQ AMAT traded up $0.29 during trading on Thursday, reaching $139.43. The company’s stock had a trading volume of 210,908 shares, compared to its average volume of 9,623,827. The stock has a market capitalization of $127.95 billion, a PE ratio of 35.49, a P/E/G ratio of 2.06 and a beta of 1.48. The company has a debt-to-equity ratio of 0.52, a current ratio of 3.00 and a quick ratio of 2.12. The firm has a fifty day moving average of $120.69 and a 200 day moving average of $91.29. Applied Materials, Inc. has a one year low of $46.22 and a one year high of $146.00.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 EPS for the quarter, beating the consensus estimate of $1.28 by $0.11. The firm had revenue of $5.16 billion for the quarter, compared to analyst estimates of $4.98 billion. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. During the same period in the prior year, the company earned $0.98 EPS. Research analysts expect that Applied Materials, Inc. will post 4.97 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 27th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, May 26th. This is a positive change from Applied Materials’s previous quarterly dividend of $0.22. This represents a $0.96 annualized dividend and a dividend yield of 0.69%. Applied Materials’s dividend payout ratio is 21.10%.

In other news, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total transaction of $1,979,250.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Several research analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Applied Materials from $140.00 to $150.00 in a research report on Tuesday. Craig Hallum boosted their price objective on Applied Materials from $142.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company upped their price target on Applied Materials from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Wednesday. Credit Suisse Group upped their price target on Applied Materials from $145.00 to $175.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Evercore ISI upped their price target on Applied Materials from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 19th. Five research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Applied Materials presently has an average rating of “Buy” and an average target price of $140.36.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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

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