Applied Materials, Inc. (AMAT) Position Lifted by Albion Financial Group UT
Albion Financial Group UT boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,534 shares of the manufacturing equipment provider’s stock after buying an additional 133 shares during the period. Albion Financial Group UT’s holdings in Applied Materials were worth $683,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Bessemer Group Inc. raised its position in Applied Materials by 145.4% during the second quarter. Bessemer Group Inc. now owns 3,067 shares of the manufacturing equipment provider’s stock valued at $126,000 after buying an additional 1,817 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Applied Materials during the second quarter valued at $134,000. IHT Wealth Management LLC raised its position in Applied Materials by 67.8% during the second quarter. IHT Wealth Management LLC now owns 3,344 shares of the manufacturing equipment provider’s stock valued at $148,000 after buying an additional 1,351 shares during the period. Hanson McClain Inc. raised its position in Applied Materials by 4.3% during the first quarter. Hanson McClain Inc. now owns 3,360 shares of the manufacturing equipment provider’s stock valued at $131,000 after buying an additional 139 shares during the period. Finally, First Interstate Bank raised its position in Applied Materials by 7.0% during the first quarter. First Interstate Bank now owns 3,528 shares of the manufacturing equipment provider’s stock valued at $137,000 after buying an additional 232 shares during the period. 79.48% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Thomas F. Larkins sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $51.24, for a total value of $1,537,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Alexander Karsner sold 22,762 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $44.03, for a total value of $1,002,210.86. The disclosure for this sale can be found here. Insiders own 0.31% of the company’s stock.
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Shares of Applied Materials, Inc. (AMAT) traded up 0.49% during trading on Wednesday, hitting $52.85. The stock had a trading volume of 3,626,683 shares. Applied Materials, Inc. has a 12-month low of $27.56 and a 12-month high of $53.10. The stock has a market capitalization of $56.36 billion, a P/E ratio of 18.81 and a beta of 1.86. The stock’s 50-day moving average is $47.32 and its 200-day moving average is $44.10.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Applied Materials had a return on equity of 40.74% and a net margin of 22.08%. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. Analysts predict that Applied Materials, Inc. will post $3.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 14th. Investors of record on Friday, November 24th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 14.18%.
Several research analysts recently weighed in on AMAT shares. Credit Suisse Group reissued a “buy” rating on shares of Applied Materials in a research report on Tuesday, August 29th. Vetr raised Applied Materials from a “buy” rating to a “strong-buy” rating and set a $46.48 price target on the stock in a research report on Thursday, June 29th. Stifel Nicolaus reissued a “buy” rating and set a $55.00 price target on shares of Applied Materials in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) raised Applied Materials from a “neutral” rating to a “buy” rating and upped their price target for the company from $49.00 to $52.00 in a research report on Wednesday, September 13th. Finally, Royal Bank Of Canada raised Applied Materials from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $48.00 to $55.00 in a research report on Sunday, September 17th. Three research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $56.01.
About Applied Materials
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