Revolve Wealth Partners LLC Buys Shares of 1,009 Applied Materials, Inc. (NASDAQ:AMAT)

Revolve Wealth Partners LLC bought a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the 1st quarter, Holdings Channel.com reports. The fund bought 1,009 shares of the manufacturing equipment provider’s stock, valued at approximately $208,000.

Several other hedge funds have also recently added to or reduced their stakes in AMAT. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Applied Materials during the fourth quarter worth about $27,000. DSM Capital Partners LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth approximately $37,000. Accent Capital Management LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth approximately $41,000. Richardson Financial Services Inc. acquired a new stake in shares of Applied Materials in the fourth quarter worth approximately $43,000. Finally, First United Bank & Trust acquired a new stake in shares of Applied Materials in the fourth quarter worth approximately $45,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

Shares of AMAT opened at $232.53 on Friday. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $249.42. The company has a market cap of $192.53 billion, a price-to-earnings ratio of 26.73, a price-to-earnings-growth ratio of 3.07 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. The firm has a fifty day moving average of $216.53 and a 200-day moving average of $194.73.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter in the previous year, the company posted $2.00 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Applied Materials, Inc. will post 8.31 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s payout ratio is currently 18.39%.

Insider Buying and Selling

In related news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total value of $12,458,500.00. Following the completion of the sale, the insider now owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the completion of the transaction, the insider now owns 458,417 shares in the company, valued at approximately $114,223,763.89. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the transaction, the chief financial officer now owns 108,356 shares of the company’s stock, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Insiders sold 89,827 shares of company stock valued at $21,382,560 over the last 90 days. 0.29% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AMAT shares. Mizuho raised their target price on shares of Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Susquehanna raised their target price on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Bank of America raised their target price on shares of Applied Materials from $222.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Jefferies Financial Group cut shares of Applied Materials from a “buy” rating to a “hold” rating and reduced their price target for the company from $215.00 to $210.00 in a research report on Monday, May 13th. Finally, TD Cowen lifted their price target on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $221.84.

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.