Everett Harris & Co. CA Acquires 1,220 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Everett Harris & Co. CA boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 51.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,596 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,220 shares during the quarter. Everett Harris & Co. CA’s holdings in Applied Materials were worth $742,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Financial Management Professionals Inc. grew its stake in Applied Materials by 5.6% during the first quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock valued at $191,000 after acquiring an additional 49 shares in the last quarter. Heritage Wealth Advisors grew its position in shares of Applied Materials by 1.0% during the fourth quarter. Heritage Wealth Advisors now owns 5,217 shares of the manufacturing equipment provider’s stock valued at $846,000 after purchasing an additional 54 shares in the last quarter. Breakwater Capital Group increased its holdings in shares of Applied Materials by 4.3% in the first quarter. Breakwater Capital Group now owns 1,445 shares of the manufacturing equipment provider’s stock worth $298,000 after purchasing an additional 60 shares during the last quarter. Mechanics Financial Corp lifted its position in shares of Applied Materials by 1.7% in the fourth quarter. Mechanics Financial Corp now owns 3,957 shares of the manufacturing equipment provider’s stock worth $641,000 after buying an additional 65 shares in the last quarter. Finally, Catalyst Financial Partners LLC boosted its stake in Applied Materials by 1.5% during the fourth quarter. Catalyst Financial Partners LLC now owns 4,496 shares of the manufacturing equipment provider’s stock valued at $729,000 after buying an additional 65 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Down 0.2 %

Shares of NASDAQ AMAT opened at $242.77 on Friday. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $249.42. The firm has a market capitalization of $201.01 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.18 and a beta of 1.56. The stock has a 50 day moving average price of $222.00 and a 200 day moving average price of $197.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80.

Applied Materials (NASDAQ:AMAT) last issued its earnings results 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 business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.00 EPS. Sell-side analysts expect that Applied Materials, Inc. will post 8.31 earnings per share for the current year.

Applied Materials Dividend Announcement

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

Insider Transactions at Applied Materials

In related news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction that occurred on 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 directly owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Brice Hill sold 20,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $24,091,873.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Teri A. Little sold 2,500 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $221.62, for a total transaction of $554,050.00. Following the completion of the transaction, the senior vice president now owns 76,212 shares of the company’s stock, valued at $16,890,103.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,827 shares of company stock valued at $21,382,560. Company insiders own 0.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AMAT shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $165.00 to $225.00 in a report on Wednesday, June 5th. B. Riley upped their price target on shares of Applied Materials from $255.00 to $300.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $260.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. Finally, Mizuho boosted their target price on shares of Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $221.84.

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.