Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Mid Atlantic Financial Management Inc. ADV

Mid Atlantic Financial Management Inc. ADV lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 18.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,734 shares of the manufacturing equipment provider’s stock after buying an additional 912 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in Applied Materials were worth $766,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the stock. FMR LLC grew its position in shares of Applied Materials by 65.6% during the 4th quarter. FMR LLC now owns 15,966,445 shares of the manufacturing equipment provider’s stock valued at $1,377,905,000 after buying an additional 6,325,128 shares during the last quarter. Norges Bank bought a new stake in shares of Applied Materials during the 4th quarter valued at about $1,096,543,000. UBS Asset Management Americas Inc. grew its position in shares of Applied Materials by 44.6% during the 4th quarter. UBS Asset Management Americas Inc. now owns 6,003,934 shares of the manufacturing equipment provider’s stock valued at $518,140,000 after buying an additional 1,853,260 shares during the last quarter. Lazard Asset Management LLC grew its position in Applied Materials by 20.6% in the 4th quarter. Lazard Asset Management LLC now owns 5,304,134 shares of the manufacturing equipment provider’s stock worth $457,746,000 after purchasing an additional 906,803 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Applied Materials by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,203,546 shares of the manufacturing equipment provider’s stock worth $362,767,000 after purchasing an additional 95,824 shares during the last quarter. 78.39% of the stock is owned by institutional investors and hedge funds.

AMAT stock opened at $137.16 on Friday. Applied Materials, Inc. has a 12 month low of $54.15 and a 12 month high of $146.00. The firm has a market capitalization of $125.36 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 1.19 and a beta of 1.45. The company’s 50 day simple moving average is $133.39. The company has a current ratio of 3.10, a quick ratio of 2.26 and a debt-to-equity ratio of 0.45.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Wednesday, May 19th. The manufacturing equipment provider reported $1.63 EPS for the quarter, beating the consensus estimate of $1.51 by $0.12. Applied Materials had a net margin of 22.35% and a return on equity of 45.08%. The business had revenue of $5.58 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same period in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was up 41.1% on a year-over-year basis. Equities analysts forecast that Applied Materials, Inc. will post 6.53 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 17th. Investors of record on Thursday, May 27th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend 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 23.02%.

Several research analysts have commented on the stock. Mizuho upped their target price on shares of Applied Materials from $155.00 to $158.00 and gave the stock a “buy” rating in a research report on Friday, May 21st. JPMorgan Chase & Co. upped their target price on shares of Applied Materials from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, May 21st. Bank of America upped their target price on shares of Applied Materials from $140.00 to $150.00 and gave the stock a “buy” rating in a research report on Tuesday, March 23rd. Wells Fargo & Company upped their target price on shares of Applied Materials from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 7th. Finally, Craig Hallum upped their target price on shares of Applied Materials from $142.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, April 7th. Two investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $153.58.

In related news, Director Thomas J. Iannotti sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 31st. The shares were sold at an average price of $131.95, for a total value of $1,979,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Daniel Durn sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $132.96, for a total transaction of $731,280.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 321,443 shares of company stock valued at $44,694,744. 0.37% of the stock is owned by insiders.

Applied Materials 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.

Featured Article: Bar Chart

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).

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

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.