Capital Group Private Client Services Inc. Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Capital Group Private Client Services Inc. raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 499.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,857 shares of the manufacturing equipment provider’s stock after acquiring an additional 77,357 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Applied Materials were worth $19,150,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials in the first quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC purchased a new position in Applied Materials during the fourth quarter valued at $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in Applied Materials in the first quarter worth $35,000. RFP Financial Group LLC grew its stake in shares of Applied Materials by 96.6% in the first quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after acquiring an additional 85 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new position in shares of Applied Materials during the fourth quarter valued at $37,000. 80.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the transaction, the chief financial officer now owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction on 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 SEC, which is available through this hyperlink. Also, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction 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 completion of the sale, the chief financial officer now owns 108,356 shares in the company, valued at $24,091,873.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,827 shares of company stock worth $21,382,560. Corporate insiders own 0.29% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT stock traded up $4.15 during trading hours on Friday, reaching $206.47. 5,208,692 shares of the company traded hands, compared to its average volume of 5,764,418. The firm has a 50-day moving average price of $229.61 and a 200 day moving average price of $205.37. The company has a market cap of $170.95 billion, a P/E ratio of 23.73, a P/E/G ratio of 2.58 and a beta of 1.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.80 and a quick ratio of 1.97. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business earned $2.00 EPS. As a group, sell-side analysts predict that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced 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 0.77%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio is currently 18.39%.

Analyst Ratings Changes

Several analysts recently commented on AMAT shares. Evercore ISI initiated coverage on shares of Applied Materials in a research report on Tuesday, April 16th. They set an “outperform” rating and a $260.00 price objective on the stock. Bank of America increased 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. Stifel Nicolaus boosted their price objective on shares of Applied Materials from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, July 15th. TD Cowen increased their target price on Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Cantor Fitzgerald lifted their target price on Applied Materials from $260.00 to $290.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus target price of $224.84.

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.