Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 6.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 41,086 shares of the manufacturing equipment provider’s stock after buying an additional 2,425 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Applied Materials were worth $5,962,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in AMAT. Runnymede Capital Advisors Inc. grew its position in Applied Materials by 972.2% in the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock worth $28,000 after buying an additional 175 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in Applied Materials during the 1st quarter worth approximately $29,000. Mascagni Wealth Management Inc. purchased a new position in Applied Materials during the 4th quarter worth approximately $44,000. Minot DeBlois Advisors LLC purchased a new position in Applied Materials during the 4th quarter worth approximately $46,000. Finally, Park Square Financial Group LLC purchased a new position in Applied Materials during the 4th quarter worth approximately $55,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AMAT. The Goldman Sachs Group began coverage on shares of Applied Materials in a research report on Thursday, July 10th. They set a “buy” rating and a $225.00 price objective on the stock. TD Cowen lowered their price objective on shares of Applied Materials from $225.00 to $220.00 and set a “buy” rating on the stock in a research report on Friday, May 16th. Barclays lowered their price objective on shares of Applied Materials from $190.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company lifted their price objective on shares of Applied Materials from $200.00 to $215.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 8th. Finally, Raymond James Financial reissued an “outperform” rating and set a $200.00 target price (down previously from $225.00) on shares of Applied Materials in a research note on Friday, May 16th. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus target price of $204.74.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the transaction, the chief accounting officer owned 5,300 shares in the company, valued at $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by company insiders.

Applied Materials Stock Down 1.3%

AMAT stock opened at $185.69 on Monday. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $215.70. The company has a fifty day simple moving average of $177.59 and a 200 day simple moving average of $166.44. The firm has a market cap of $149.02 billion, a PE ratio of 22.59, a PEG ratio of 2.07 and a beta of 1.69.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping the consensus estimate of $2.31 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.09 EPS. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 0.99%. Applied Materials’s dividend payout ratio (DPR) is presently 22.38%.

Applied Materials Profile

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. The company 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.