Applied Materials, Inc. (NASDAQ:AMAT) Position Trimmed by Empower Advisory Group LLC

Empower Advisory Group LLC decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,506 shares of the manufacturing equipment provider’s stock after selling 119 shares during the period. Empower Advisory Group LLC’s holdings in Applied Materials were worth $799,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in AMAT. Pacer Advisors Inc. increased its stake in Applied Materials by 2,401.0% during the first quarter. Pacer Advisors Inc. now owns 3,066,817 shares of the manufacturing equipment provider’s stock valued at $445,056,000 after purchasing an additional 2,944,193 shares during the last quarter. GAMMA Investing LLC increased its stake in Applied Materials by 18,402.1% during the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider’s stock valued at $2,647,430,000 after purchasing an additional 1,814,444 shares during the last quarter. Northern Trust Corp grew its position in shares of Applied Materials by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider’s stock worth $1,663,780,000 after acquiring an additional 1,602,645 shares during the last quarter. Kovitz Investment Group Partners LLC grew its position in shares of Applied Materials by 301.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider’s stock worth $318,754,000 after acquiring an additional 1,471,953 shares during the last quarter. Finally, Two Sigma Investments LP grew its position in shares of Applied Materials by 10,767.6% during the fourth quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider’s stock worth $219,157,000 after acquiring an additional 1,335,180 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $178.14 on Thursday. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $215.70. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $142.96 billion, a price-to-earnings ratio of 21.67, a PEG ratio of 1.99 and a beta of 1.70. The firm has a 50-day moving average of $181.10 and a two-hundred day moving average of $166.87.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the company earned $2.09 EPS. Applied Materials’s revenue was up 6.8% on a year-over-year basis. As a group, analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.0%. The ex-dividend date is Thursday, August 21st. Applied Materials’s payout ratio is presently 22.38%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AMAT shares. Rothschild & Co Redburn lowered shares of Applied Materials from a “buy” rating to a “neutral” rating and set a $200.00 price target for the company. in a research report on Monday, July 7th. Cantor Fitzgerald set a $220.00 price target on shares of Applied Materials and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. Bank of America lowered their price target on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. UBS Group restated a “neutral” rating and set a $185.00 price target (up previously from $175.00) on shares of Applied Materials in a research report on Monday. Finally, The Goldman Sachs Group assumed coverage on shares of Applied Materials in a research report on Thursday, July 10th. They set a “buy” rating and a $225.00 price target for the company. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.09.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the business’s stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the sale, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. The trade was a 9.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

About Applied Materials

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.