Sen. Markwayne Mullin Purchases Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Senator Markwayne Mullin (R-Oklahoma) recently bought shares of Applied Materials, Inc. (NASDAQ:AMAT). In a filing disclosed on December 31st, the Senator disclosed that they had bought between $15,001 and $50,000 in Applied Materials stock on December 11th.

Senator Markwayne Mullin also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Axon Enterprise (NASDAQ:AXON) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Eaton (NYSE:ETN) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Sprouts Farmers Market (NASDAQ:SFM) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Ollie’s Bargain Outlet (NASDAQ:OLLI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Stride (NYSE:LRN) on 12/18/2024.
• Sold $1,001 – $15,000 in shares of Badger Meter (NYSE:BMI) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of CyberArk Software (NASDAQ:CYBR) on 12/18/2024.
• Sold $15,001 – $50,000 in shares of Freshpet (NASDAQ:FRPT) on 12/18/2024.

Applied Materials Price Performance

Applied Materials stock opened at $162.63 on Wednesday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The company has a fifty day simple moving average of $175.93 and a 200-day simple moving average of $196.37. The stock has a market cap of $132.33 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 1.61 and a beta of 1.52. Applied Materials, Inc. has a 12-month low of $148.05 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $2.12 earnings per share. Equities analysts expect that Applied Materials, Inc. will post 9.48 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 18.58%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in AMAT. Lantz Financial LLC purchased a new position in shares of Applied Materials during the 2nd quarter worth approximately $212,000. Essex Financial Services Inc. grew its stake in shares of Applied Materials by 36.8% during the 2nd quarter. Essex Financial Services Inc. now owns 4,108 shares of the manufacturing equipment provider’s stock worth $970,000 after purchasing an additional 1,104 shares during the period. Ritholtz Wealth Management increased its holdings in shares of Applied Materials by 1.1% in the 2nd quarter. Ritholtz Wealth Management now owns 11,823 shares of the manufacturing equipment provider’s stock valued at $2,790,000 after purchasing an additional 133 shares in the last quarter. Valmark Advisers Inc. lifted its stake in shares of Applied Materials by 34.0% in the second quarter. Valmark Advisers Inc. now owns 1,453 shares of the manufacturing equipment provider’s stock valued at $343,000 after purchasing an additional 369 shares during the period. Finally, Equitable Trust Co. boosted its holdings in Applied Materials by 45.2% during the second quarter. Equitable Trust Co. now owns 2,294 shares of the manufacturing equipment provider’s stock worth $541,000 after buying an additional 714 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a report on Friday, November 15th. TD Cowen cut their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Sanford C. Bernstein decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Mizuho cut their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Finally, Needham & Company LLC decreased their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $220.29.

About Senator Mullin

Markwayne Mullin (Republican Party) is a member of the U.S. Senate from Oklahoma. He assumed office on January 11, 2023. His current term ends on January 3, 2027. Mullin (Republican Party) ran in a special election to the U.S. Senate to represent Oklahoma. He won in the special general election on November 8, 2022. Mullin is a member of the Cherokee Nation and one of four Native American members of the 116th Congress. At the age of 20, Mullin took over his father’s plumbing business. He is also a former professional mixed martial artist. Markwayne Mullin graduated from Stilwell High School. Mullin earned an associate degree in construction technology from Oklahoma State University Institute of Technology. His career experience includes owning and founding multiple businesses.

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.