Advisor Resource Council Cuts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Advisor Resource Council reduced its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 71.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,991 shares of the manufacturing equipment provider’s stock after selling 5,016 shares during the period. Advisor Resource Council’s holdings in Applied Materials were worth $411,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kovack Advisors Inc. boosted its position in shares of Applied Materials by 3.6% during the 1st quarter. Kovack Advisors Inc. now owns 2,847 shares of the manufacturing equipment provider’s stock valued at $587,000 after acquiring an additional 99 shares during the last quarter. Madrona Financial Services LLC purchased a new stake in Applied Materials during the first quarter valued at $257,000. Norden Group LLC lifted its position in Applied Materials by 2,456.2% during the first quarter. Norden Group LLC now owns 106,800 shares of the manufacturing equipment provider’s stock valued at $22,024,000 after purchasing an additional 102,622 shares during the last quarter. Arvest Investments Inc. purchased a new position in shares of Applied Materials in the 1st quarter worth $1,431,000. Finally, United Capital Management of KS Inc. increased its holdings in shares of Applied Materials by 6.0% in the 1st quarter. United Capital Management of KS Inc. now owns 38,404 shares of the manufacturing equipment provider’s stock worth $7,920,000 after buying an additional 2,190 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Price Performance

Shares of AMAT stock opened at $243.31 on Friday. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $249.42. 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 market capitalization of $201.45 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.15 and a beta of 1.56. The stock’s 50-day simple moving average is $221.08 and its 200-day simple moving average is $197.51.

Applied Materials (NASDAQ:AMATGet Free Report) last released 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. 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 for the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter in the previous year, the firm earned $2.00 EPS. Applied Materials’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

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

Insider Buying and Selling

In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the sale, the senior vice president now directly owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total value of $1,597,650.00. Following the sale, the senior vice president now owns 78,712 shares in the company, valued at approximately $16,767,230.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 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 directly owns 108,356 shares in the company, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Insiders sold a total of 89,827 shares of company stock valued at $21,382,560 over the last 90 days. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMAT shares. B. Riley upped their price objective on Applied Materials from $255.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Needham & Company LLC reiterated a “buy” rating and set a $240.00 price objective on shares of Applied Materials in a research report on Friday, May 17th. Barclays raised shares of Applied Materials from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $165.00 to $225.00 in a research note on Wednesday, June 5th. Mizuho lifted their price target on shares of Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Bank of America upped their price target on shares of Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $221.84.

View Our Latest Analysis on AMAT

About Applied Materials

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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