Parallel Advisors LLC raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 26.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,876 shares of the manufacturing equipment provider’s stock after buying an additional 1,016 shares during the quarter. Parallel Advisors LLC’s holdings in Applied Materials were worth $243,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Security National Trust Co. increased its stake in Applied Materials by 66.8% in the 3rd quarter. Security National Trust Co. now owns 23,400 shares of the manufacturing equipment provider’s stock valued at $1,168,000 after buying an additional 9,370 shares during the period. Cullen Frost Bankers Inc. increased its stake in Applied Materials by 1,546.9% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 193,478 shares of the manufacturing equipment provider’s stock valued at $9,654,000 after buying an additional 181,730 shares during the period. Traynor Capital Management Inc. increased its stake in Applied Materials by 56.1% in the 3rd quarter. Traynor Capital Management Inc. now owns 22,544 shares of the manufacturing equipment provider’s stock valued at $1,124,000 after buying an additional 8,104 shares during the period. Bank OZK increased its stake in Applied Materials by 1.9% in the 3rd quarter. Bank OZK now owns 46,604 shares of the manufacturing equipment provider’s stock valued at $2,326,000 after buying an additional 881 shares during the period. Finally, First Mercantile Trust Co. acquired a new position in Applied Materials in the 3rd quarter valued at approximately $979,000. Hedge funds and other institutional investors own 79.06% of the company’s stock.
AMAT stock traded up $0.09 during trading hours on Friday, hitting $56.03. The company’s stock had a trading volume of 3,313,800 shares, compared to its average volume of 9,191,457. Applied Materials, Inc. has a 12 month low of $28.79 and a 12 month high of $57.29. The company has a market capitalization of $51.62 billion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 3.40 and a beta of 1.66. The company has a quick ratio of 1.72, a current ratio of 2.65 and a debt-to-equity ratio of 0.65. The stock has a 50 day moving average price of $52.53 and a two-hundred day moving average price of $46.93.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Wednesday, November 20th. Applied Materials’s dividend payout ratio (DPR) is currently 18.88%.
AMAT has been the topic of several research reports. B. Riley set a $54.00 price objective on shares of Applied Materials and gave the company a “buy” rating in a research note on Friday, August 16th. DZ Bank lowered shares of Applied Materials from a “hold” rating to a “sell” rating and set a $46.00 price objective on the stock. in a research note on Tuesday, October 29th. Zacks Investment Research raised shares of Applied Materials from a “sell” rating to a “hold” rating and set a $60.00 target price for the company in a research report on Tuesday, October 29th. Wells Fargo & Co reissued a “positive” rating and issued a $58.00 target price (up from $52.00) on shares of Applied Materials in a research report on Wednesday, September 18th. Finally, ValuEngine downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $53.23.
In related news, Director Stephen R. Forrest sold 3,000 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $46.00, for a total transaction of $138,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Steve G. Ghanayem sold 25,727 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $52.12, for a total transaction of $1,340,891.24. The disclosure for this sale can be found here. Insiders have sold a total of 53,945 shares of company stock valued at $2,776,105 in the last quarter. 0.44% of the stock is currently owned by corporate insiders.
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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