Applied Materials, Inc. (NASDAQ:AMAT) Stock Holdings Decreased by TD Asset Management Inc

TD Asset Management Inc reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,517,943 shares of the manufacturing equipment provider’s stock after selling 20,800 shares during the quarter. TD Asset Management Inc’s holdings in Applied Materials were worth $220,284,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Runnymede Capital Advisors Inc. boosted its holdings in shares of Applied Materials by 972.2% during the first quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider’s stock worth $28,000 after purchasing an additional 175 shares during the period. Smallwood Wealth Investment Management LLC acquired a new stake in shares of Applied Materials during the first quarter worth approximately $29,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Applied Materials during the fourth quarter worth approximately $44,000. Minot DeBlois Advisors LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth approximately $46,000. Finally, Park Square Financial Group LLC acquired a new stake in shares of Applied Materials during the fourth quarter worth approximately $55,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMAT has been the subject of several research reports. Redburn Atlantic cut shares of Applied Materials from a “strong-buy” rating to a “hold” rating and decreased their price target for the stock from $225.00 to $200.00 in a report on Monday, July 7th. Wells Fargo & Company raised their price target on shares of Applied Materials from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, July 8th. Wall Street Zen cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, June 14th. Jefferies Financial Group upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Friday, March 28th. Finally, Mizuho lifted their target price on shares of Applied Materials from $195.00 to $220.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Nine research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $204.74.

Applied Materials Trading Down 1.3%

Shares of AMAT stock opened at $185.69 on Friday. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $215.70. The firm’s fifty day simple moving average is $177.59 and its 200 day simple moving average is $166.59. The firm has a market capitalization of $149.02 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 2.09 and a beta of 1.69. 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 (NASDAQ:AMAT) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping 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 business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same quarter in the previous year, the firm posted $2.09 earnings per share. Applied Materials’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

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

Insider Transactions at Applied Materials

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

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.