Applied Materials, Inc. (NASDAQ:AMAT) Holdings Decreased by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 7.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116,368 shares of the manufacturing equipment provider’s stock after selling 9,020 shares during the period. State of Alaska Department of Revenue’s holdings in Applied Materials were worth $23,997,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of AMAT. Norges Bank acquired a new position in Applied Materials in the fourth quarter valued at approximately $1,514,814,000. Wellington Management Group LLP grew its stake in Applied Materials by 3,940.1% during the 4th quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock worth $352,626,000 after buying an additional 2,121,912 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Applied Materials by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock valued at $12,012,171,000 after acquiring an additional 973,218 shares during the period. Vontobel Holding Ltd. grew its position in shares of Applied Materials by 40.0% during the fourth quarter. Vontobel Holding Ltd. now owns 2,724,217 shares of the manufacturing equipment provider’s stock worth $441,514,000 after acquiring an additional 778,716 shares during the last quarter. Finally, Capital International Investors lifted its position in Applied Materials by 3.2% in the 4th quarter. Capital International Investors now owns 22,005,192 shares of the manufacturing equipment provider’s stock valued at $3,566,418,000 after purchasing an additional 682,098 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AMAT has been the topic of a number of recent analyst reports. B. Riley lifted their price target on Applied Materials from $255.00 to $300.00 and gave the company a “buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. boosted their target price on Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $260.00 target price on shares of Applied Materials in a research report on Friday, May 17th. Deutsche Bank Aktiengesellschaft assumed coverage on Applied Materials in a research report on Thursday, April 11th. They set a “hold” rating and a $225.00 price target on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $230.00 price target on shares of Applied Materials in a research report on Wednesday, May 15th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $221.84.

Insider Buying and Selling at Applied Materials

In other news, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total value of $4,446,800.00. Following the transaction, the chief financial officer now directly owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Teri A. Little sold 7,500 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares of the company’s stock, valued at approximately $16,767,230.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the sale, the chief financial officer now owns 108,356 shares in the company, valued at $24,091,873.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 89,827 shares of company stock worth $21,382,560. Insiders own 0.29% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT traded up $2.45 during trading hours on Wednesday, hitting $243.31. The stock had a trading volume of 2,768,742 shares, compared to its average volume of 5,733,284. The stock has a market capitalization of $201.45 billion, a price-to-earnings ratio of 27.80, a P/E/G ratio of 3.09 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. The company’s fifty day moving average is $220.13 and its two-hundred day moving average is $197.19. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $249.42.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.12. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.00 earnings per share. On average, analysts anticipate that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio is presently 18.39%.

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.