Fulton Bank N.A. decreased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,614 shares of the manufacturing equipment provider’s stock after selling 1,502 shares during the quarter. Fulton Bank N.A.’s holdings in Applied Materials were worth $1,552,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Prestige Wealth Management Group LLC raised its position in shares of Applied Materials by 42.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock worth $25,000 after purchasing an additional 88 shares during the last quarter. Key Financial Inc bought a new position in shares of Applied Materials in the fourth quarter worth approximately $26,000. Paces Ferry Wealth Advisors LLC bought a new position in shares of Applied Materials in the third quarter worth approximately $31,000. Curi Capital purchased a new stake in shares of Applied Materials during the fourth quarter valued at approximately $31,000. Finally, Addison Advisors LLC bought a new stake in shares of Applied Materials during the fourth quarter valued at approximately $38,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have commented on AMAT shares. Credit Suisse Group lifted their target price on Applied Materials from $145.00 to $175.00 and gave the stock an “outperform” rating in a report on Monday. The Goldman Sachs Group boosted their target price on Applied Materials from $133.00 to $151.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI raised their price target on shares of Applied Materials from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, February 19th. Craig Hallum boosted their price objective on shares of Applied Materials from $142.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus raised their target price on shares of Applied Materials from $140.00 to $160.00 and gave the stock a “buy” rating in a report on Monday. Five analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Applied Materials presently has an average rating of “Buy” and an average price target of $140.36.
Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Wednesday, February 17th. The manufacturing equipment provider reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.11. Applied Materials had a net margin of 21.04% and a return on equity of 40.65%. The firm had revenue of $5.16 billion for the quarter, compared to analysts’ expectations of $4.98 billion. During the same quarter last year, the business posted $0.98 earnings per share. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 4.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Shareholders of record on Thursday, May 27th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Wednesday, May 26th. This is an increase from Applied Materials’s previous quarterly dividend of $0.22. Applied Materials’s dividend payout ratio is 21.10%.
In related news, Director Thomas J. Iannotti sold 15,000 shares of the business’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 transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.41% of the company’s stock.
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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