SVB Wealth LLC Has $3.35 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

SVB Wealth LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.5% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,182 shares of the manufacturing equipment provider’s stock after buying an additional 613 shares during the period. SVB Wealth LLC’s holdings in Applied Materials were worth $3,347,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of AMAT. Vanguard Group Inc. boosted its stake in Applied Materials by 1.2% during the first quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider’s stock worth $15,469,028,000 after acquiring an additional 891,446 shares in the last quarter. Capital International Investors boosted its position in shares of Applied Materials by 3.2% during the 4th quarter. Capital International Investors now owns 22,005,192 shares of the manufacturing equipment provider’s stock worth $3,566,418,000 after purchasing an additional 682,098 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Applied Materials by 1.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,738,382 shares of the manufacturing equipment provider’s stock valued at $2,226,581,000 after buying an additional 224,296 shares during the period. Bank of New York Mellon Corp increased its position in Applied Materials by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 11,260,630 shares of the manufacturing equipment provider’s stock valued at $2,322,280,000 after buying an additional 360,002 shares in the last quarter. Finally, Norges Bank acquired a new position in Applied Materials during the 4th quarter worth approximately $1,514,814,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insider Activity at Applied Materials

In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the transaction, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Prabu G. Raja sold 50,000 shares of Applied Materials stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the completion of the transaction, the insider now directly owns 458,417 shares in the company, valued at $114,223,763.89. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the sale, the director now directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Raymond James boosted their price objective on Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Friday, May 17th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Friday, August 16th. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Thursday. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th. Finally, B. Riley dropped their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $233.14.

Applied Materials Stock Performance

Shares of AMAT stock opened at $174.75 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The firm has a market cap of $144.69 billion, a price-to-earnings ratio of 20.09, a P/E/G ratio of 2.35 and a beta of 1.55. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89. The firm’s 50-day simple moving average is $209.96 and its two-hundred day simple moving average is $211.27.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the firm posted $1.90 EPS. Applied Materials’s revenue was up 5.5% on a year-over-year basis. As a group, equities analysts forecast that Applied Materials, Inc. will post 8.47 earnings per share for the current year.

Applied Materials Announces Dividend

The company 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 0.92%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

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.