Royal London Asset Management Ltd. Buys 71,842 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Royal London Asset Management Ltd. increased its stake in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,069,060 shares of the manufacturing equipment provider’s stock after purchasing an additional 71,842 shares during the period. Royal London Asset Management Ltd. owned approximately 0.13% of Applied Materials worth $173,263,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Atlantic Edge Private Wealth Management LLC bought a new position in Applied Materials in the fourth quarter valued at approximately $27,000. DSM Capital Partners LLC bought a new stake in shares of Applied Materials during the 4th quarter worth $37,000. First United Bank & Trust acquired a new stake in shares of Applied Materials in the 4th quarter valued at approximately $45,000. Tompkins Financial Corp bought a new stake in shares of Applied Materials during the fourth quarter worth $49,000. Finally, Highlander Capital Management LLC grew its position in Applied Materials by 60.0% during the 4th quarter. Highlander Capital Management LLC now owns 320 shares of the manufacturing equipment provider’s stock worth $52,000 after acquiring an additional 120 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insider Activity at Applied Materials

In other news, CFO Brice Hill sold 20,000 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, SVP Teri A. Little sold 2,500 shares of the business’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $221.62, for a total transaction of $554,050.00. Following the transaction, the senior vice president now directly owns 76,212 shares in the company, valued at $16,890,103.44. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $4,446,800.00. Following the completion of the sale, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,000 shares of company stock valued at $6,598,500. 0.29% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMAT. UBS Group lifted their price target on Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research note on Tuesday, March 5th. Needham & Company LLC reissued a “buy” rating and set a $240.00 target price on shares of Applied Materials in a report on Friday, May 17th. TD Cowen raised their price target on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Cantor Fitzgerald reissued an “overweight” rating and issued a $260.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. Finally, Bank of America raised their target price on Applied Materials from $222.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Seven analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $219.04.

View Our Latest Stock Analysis on Applied Materials

Applied Materials Stock Down 0.2 %

Applied Materials stock traded down $0.52 during mid-day trading on Friday, reaching $237.03. The stock had a trading volume of 3,306,544 shares, compared to its average volume of 5,144,476. The firm has a market capitalization of $196.25 billion, a PE ratio of 27.24, a price-to-earnings-growth ratio of 3.10 and a beta of 1.56. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $238.40. The stock’s 50-day simple moving average is $211.62 and its 200-day simple moving average is $189.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating 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 business had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same quarter last year, the firm posted $2.00 EPS. Applied Materials’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts forecast that Applied Materials, Inc. will post 8.31 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm 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. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.68%. Applied Materials’s dividend payout ratio is presently 18.39%.

Applied Materials Company Profile

(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.

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

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