Raymond James Trust N.A. trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 95,557 shares of the manufacturing equipment provider’s stock after selling 913 shares during the quarter. Raymond James Trust N.A.’s holdings in Applied Materials were worth $5,833,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Holocene Advisors LP bought a new position in Applied Materials in the 2nd quarter worth about $19,389,000. Barings LLC boosted its stake in shares of Applied Materials by 130.4% during the second quarter. Barings LLC now owns 71,606 shares of the manufacturing equipment provider’s stock valued at $3,216,000 after purchasing an additional 40,531 shares in the last quarter. OmniStar Financial Group Inc. boosted its stake in shares of Applied Materials by 7.5% during the third quarter. OmniStar Financial Group Inc. now owns 13,523 shares of the manufacturing equipment provider’s stock valued at $675,000 after purchasing an additional 946 shares in the last quarter. HGK Asset Management Inc. bought a new position in shares of Applied Materials during the third quarter valued at approximately $5,090,000. Finally, Highland Capital Management LLC bought a new position in shares of Applied Materials during the third quarter valued at approximately $2,866,000. Hedge funds and other institutional investors own 79.70% of the company’s stock.
Shares of NASDAQ AMAT traded up $0.54 during midday trading on Tuesday, reaching $62.35. The company had a trading volume of 7,919,513 shares, compared to its average volume of 6,095,845. The business’s 50-day simple moving average is $59.76 and its 200 day simple moving average is $52.68. The stock has a market cap of $56.26 billion, a P/E ratio of 20.51, a P/E/G ratio of 1.99 and a beta of 1.66. Applied Materials, Inc. has a 1 year low of $33.25 and a 1 year high of $63.54. The company has a current ratio of 2.30, a quick ratio of 1.51 and a debt-to-equity ratio of 0.57.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 19th will be issued a dividend of $0.21 per share. The ex-dividend date is Tuesday, February 18th. This represents a $0.84 annualized dividend and a dividend yield of 1.35%. Applied Materials’s dividend payout ratio (DPR) is presently 27.63%.
In related news, SVP Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $60.73, for a total transaction of $3,036,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary E. Dickerson sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $61.11, for a total transaction of $61,110,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,053,000 shares of company stock valued at $64,335,080. 0.44% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently issued reports on the stock. Argus reiterated a “buy” rating and set a $72.00 price objective on shares of Applied Materials in a research note on Monday, November 18th. They noted that the move was a valuation call. ICAP upgraded shares of Applied Materials from a “neutral” rating to a “buy” rating in a research note on Friday. BidaskClub downgraded shares of Applied Materials from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, January 1st. DA Davidson increased their price objective on shares of Applied Materials to $55.00 and gave the company a “positive” rating in a research note on Friday, November 15th. Finally, Cowen reiterated a “buy” rating and set a $75.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $64.10.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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