Applied Materials, Inc. (NASDAQ:AMAT) is FRG Family Wealth Advisors LLC’s 5th Largest Position

FRG Family Wealth Advisors LLC cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 97,740 shares of the manufacturing equipment provider’s stock after selling 245 shares during the quarter. Applied Materials accounts for about 3.3% of FRG Family Wealth Advisors LLC’s investment portfolio, making the stock its 5th largest holding. FRG Family Wealth Advisors LLC’s holdings in Applied Materials were worth $23,066,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Applied Materials during the second quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new stake in shares of Applied Materials during the 1st quarter valued at about $26,000. PSI Advisors LLC lifted its holdings in shares of Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Applied Materials in the 4th quarter valued at approximately $27,000. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in Applied Materials in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insiders Place Their Bets

In other news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the sale, the insider now directly owns 458,417 shares in the company, valued at approximately $114,223,763.89. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the transaction, the director now directly owns 49,185 shares in the company, valued at $11,639,630.25. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the sale, the insider now directly owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Applied Materials Trading Up 1.6 %

Shares of AMAT opened at $177.55 on Tuesday. The stock’s 50-day moving average price is $208.77 and its 200 day moving average price is $211.26. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $146.37 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 2.08 and a beta of 1.55. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same period in the prior year, the company posted $1.90 earnings per share. Applied Materials’s revenue was up 5.5% on a year-over-year basis. As a group, research analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current 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 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 yield of 0.90%. Applied Materials’s payout ratio is currently 18.39%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on AMAT. JPMorgan Chase & Co. lifted their target price on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Raymond James increased their target price on shares of Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. UBS Group reduced their price target on Applied Materials from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Monday, August 5th. Finally, Bank of America increased their price objective on Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.14.

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.