RNC Capital Management LLC lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 22.2% during the fourth quarter, Holdings Channel reports. The fund owned 26,690 shares of the manufacturing equipment provider’s stock after selling 7,635 shares during the period. RNC Capital Management LLC’s holdings in Applied Materials were worth $1,364,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of AMAT. LeJeune Puetz Investment Counsel LLC acquired a new position in Applied Materials during the 3rd quarter valued at about $105,000. MPS Loria Financial Planners LLC acquired a new position in Applied Materials during the 2nd quarter valued at about $109,000. First Personal Financial Services lifted its position in Applied Materials by 281.5% during the 3rd quarter. First Personal Financial Services now owns 2,575 shares of the manufacturing equipment provider’s stock valued at $134,000 after purchasing an additional 1,900 shares during the period. Zions Bancorporation lifted its position in Applied Materials by 349.1% during the 3rd quarter. Zions Bancorporation now owns 2,636 shares of the manufacturing equipment provider’s stock valued at $137,000 after purchasing an additional 2,049 shares during the period. Finally, Mosaic Family Wealth LLC lifted its position in Applied Materials by 56.1% during the 3rd quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock valued at $142,000 after purchasing an additional 984 shares during the period. 79.77% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Omkaram Nalamasu sold 53,466 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total value of $2,833,698.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Forrest sold 5,000 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 312,716 shares of company stock valued at $16,218,746 over the last ninety days. Company insiders own 0.31% of the company’s stock.
Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The business’s quarterly revenue was up 20.4% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. equities research analysts predict that Applied Materials, Inc. will post 4.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be paid a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 20th. This represents a $0.40 annualized dividend and a dividend yield of 0.73%. Applied Materials’s dividend payout ratio is currently 12.62%.
A number of research firms have issued reports on AMAT. Vetr downgraded shares of Applied Materials from a “buy” rating to a “hold” rating and set a $61.08 target price on the stock. in a research report on Tuesday, November 21st. Nomura reiterated a “buy” rating and issued a $65.00 price target (up from $55.00) on shares of Applied Materials in a research report on Tuesday, November 21st. Royal Bank of Canada increased their price target on shares of Applied Materials from $55.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. Credit Suisse Group increased their price target on shares of Applied Materials from $62.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, November 17th. Finally, Needham & Company LLC increased their price target on shares of Applied Materials to $66.00 and gave the company a “positive” rating in a research report on Friday, November 17th. One investment analyst has rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $62.74.
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Applied Materials Profile
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