UMB Bank n.a. cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 10.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 18,623 shares of the manufacturing equipment provider's stock after selling 2,115 shares during the period. UMB Bank n.a.'s holdings in Applied Materials were worth $1,694,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Capital Investment Advisors LLC lifted its position in Applied Materials by 1.3% in the 1st quarter. Capital Investment Advisors LLC now owns 7,055 shares of the manufacturing equipment provider's stock valued at $930,000 after purchasing an additional 92 shares during the last quarter. Welch & Forbes LLC lifted its position in Applied Materials by 1.7% in the 1st quarter. Welch & Forbes LLC now owns 5,618 shares of the manufacturing equipment provider's stock valued at $741,000 after purchasing an additional 92 shares during the last quarter. Syverson Strege & Co lifted its position in Applied Materials by 32.1% in the 1st quarter. Syverson Strege & Co now owns 387 shares of the manufacturing equipment provider's stock valued at $51,000 after purchasing an additional 94 shares during the last quarter. Grove Bank & Trust lifted its position in Applied Materials by 1.9% in the 1st quarter. Grove Bank & Trust now owns 5,204 shares of the manufacturing equipment provider's stock valued at $686,000 after purchasing an additional 96 shares during the last quarter. Finally, Mader & Shannon Wealth Management Inc. lifted its position in Applied Materials by 0.5% in the 1st quarter. Mader & Shannon Wealth Management Inc. now owns 18,122 shares of the manufacturing equipment provider's stock valued at $2,388,000 after purchasing an additional 96 shares during the last quarter. 74.99% of the stock is owned by institutional investors and hedge funds.
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Insider Activity at Applied Materials
In related news, SVP Teri A. Little sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $86.30, for a total transaction of $1,294,500.00. Following the transaction, the senior vice president now directly owns 93,169 shares of the company's stock, valued at $8,040,484.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on AMAT shares. StockNews.com downgraded shares of Applied Materials from a "buy" rating to a "hold" rating in a research report on Thursday. Sanford C. Bernstein lifted their price objective on shares of Applied Materials to $140.00 in a research report on Monday, August 22nd. Cowen dropped their price target on shares of Applied Materials from $160.00 to $140.00 and set an "outperform" rating on the stock in a research report on Friday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Applied Materials from $110.00 to $115.00 in a research report on Friday, August 19th. Finally, The Goldman Sachs Group restated a "buy" rating and set a $109.00 price target (up from $95.00) on shares of Applied Materials in a research report on Tuesday, August 30th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.08.
Applied Materials Stock Performance
Applied Materials stock opened at $81.93 on Monday. The firm's 50 day simple moving average is $97.40 and its 200-day simple moving average is $105.58. The company has a market cap of $70.49 billion, a P/E ratio of 10.95, a price-to-earnings-growth ratio of 1.49 and a beta of 1.53. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.26 and a quick ratio of 1.45. Applied Materials, Inc. has a fifty-two week low of $81.53 and a fifty-two week high of $167.06.
Applied Materials (NASDAQ:AMAT – Get Rating) last released its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.16. The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.27 billion. Applied Materials had a net margin of 26.42% and a return on equity of 56.68%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period last year, the firm posted $1.90 earnings per share. As a group, equities research analysts predict that Applied Materials, Inc. will post 7.68 EPS for the current year.
Applied Materials Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Wednesday, November 23rd. Applied Materials's payout ratio is presently 13.90%.
Applied Materials Company Profile
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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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