Everence Capital Management Inc. Invests $3.05 Million in Applied Materials, Inc. (NASDAQ:AMAT)

Everence Capital Management Inc. purchased a new position in Applied Materials, Inc. (NASDAQ:AMAT) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 22,796 shares of the manufacturing equipment provider’s stock, valued at approximately $3,046,000.

Several other institutional investors have also bought and sold shares of AMAT. Prestige Wealth Management Group LLC increased its position in Applied Materials by 42.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock worth $25,000 after acquiring an additional 88 shares during the period. Woodstock Corp increased its position in Applied Materials by 2.3% during the first quarter. Woodstock Corp now owns 4,248 shares of the manufacturing equipment provider’s stock worth $568,000 after acquiring an additional 96 shares during the period. Stock Yards Bank & Trust Co. increased its position in Applied Materials by 2.1% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 4,814 shares of the manufacturing equipment provider’s stock worth $415,000 after acquiring an additional 100 shares during the period. Rikoon Group LLC increased its position in Applied Materials by 1.2% during the fourth quarter. Rikoon Group LLC now owns 8,652 shares of the manufacturing equipment provider’s stock worth $528,000 after acquiring an additional 102 shares during the period. Finally, Carnegie Capital Asset Management LLC increased its position in Applied Materials by 0.4% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 28,449 shares of the manufacturing equipment provider’s stock worth $2,455,000 after acquiring an additional 106 shares during the period. Institutional investors own 78.80% of the company’s stock.

Applied Materials stock traded up $0.29 during trading hours on Thursday, reaching $139.43. 210,908 shares of the company’s stock traded hands, compared to its average volume of 9,623,827. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.12 and a current ratio of 3.00. Applied Materials, Inc. has a fifty-two week low of $46.22 and a fifty-two week high of $146.00. The firm has a market capitalization of $127.95 billion, a price-to-earnings ratio of 35.49, a PEG ratio of 2.06 and a beta of 1.48. The firm’s 50 day moving average is $120.69 and its 200-day moving average is $91.29.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.11. Applied Materials had a net margin of 21.04% and a return on equity of 40.65%. The company had revenue of $5.16 billion for the quarter, compared to the consensus estimate of $4.98 billion. During the same period in the prior year, the company posted $0.98 EPS. Analysts predict that Applied Materials, Inc. will post 4.97 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 27th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, May 26th. This is a boost from Applied Materials’s previous quarterly dividend of $0.22. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.69%. Applied Materials’s dividend payout ratio is 21.10%.

AMAT has been the topic of a number of research reports. Argus boosted their target price on shares of Applied Materials from $90.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, January 7th. Needham & Company LLC boosted their price target on shares of Applied Materials from $130.00 to $153.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group boosted their price target on shares of Applied Materials from $105.00 to $112.00 in a report on Friday, February 19th. JPMorgan Chase & Co. boosted their price target on shares of Applied Materials from $88.00 to $146.00 and gave the company an “overweight” rating in a report on Friday, February 19th. Finally, Barclays boosted their price target on shares of Applied Materials from $125.00 to $150.00 in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $140.36.

In other news, Director Thomas J. Iannotti sold 15,000 shares of the company’s stock in a transaction dated Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total value of $1,979,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Applied Materials Company Profile

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

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