Wolf Group Capital Advisors bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,575 shares of the manufacturing equipment provider’s stock, valued at approximately $210,000.
Other hedge funds also recently made changes to their positions in the company. Prestige Wealth Management Group LLC increased its position in Applied Materials by 42.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock worth $25,000 after acquiring an additional 88 shares during the period. Key Financial Inc acquired a new stake in Applied Materials during the fourth quarter worth $26,000. Paces Ferry Wealth Advisors LLC acquired a new stake in Applied Materials during the third quarter worth $31,000. Curi Capital acquired a new stake in Applied Materials during the fourth quarter worth $31,000. Finally, GPS Wealth Strategies Group LLC acquired a new stake in Applied Materials during the first quarter worth $33,000. 78.80% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:AMAT opened at $130.89 on Tuesday. Applied Materials, Inc. has a twelve month low of $46.22 and a twelve month high of $146.00. The company has a quick ratio of 2.12, a current ratio of 3.00 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $125.18 and a two-hundred day moving average price of $95.96. The company has a market cap of $120.11 billion, a P/E ratio of 33.39, a price-to-earnings-growth ratio of 2.06 and a beta of 1.48.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 27th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Wednesday, May 26th. This is an increase from Applied Materials’s previous quarterly dividend of $0.22. Applied Materials’s dividend payout ratio is presently 21.10%.
Several brokerages have recently commented on AMAT. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Applied Materials from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Friday. Sanford C. Bernstein began coverage on shares of Applied Materials in a research note on Tuesday, March 30th. They issued an “outperform” rating and a $160.00 target price on the stock. Citigroup boosted their target price on shares of Applied Materials from $80.00 to $130.00 in a research note on Monday, January 25th. Morgan Stanley lifted their price target on Applied Materials from $104.00 to $113.00 and gave the company an “equal weight” rating in a report on Thursday, February 25th. Finally, Credit Suisse Group lifted their price target on Applied Materials from $145.00 to $175.00 and gave the company an “outperform” rating in a report on Monday, April 5th. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $141.50.
In related news, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total value of $1,979,250.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Gary E. Dickerson sold 105,184 shares of the stock in a transaction on Friday, April 9th. The shares were sold at an average price of $140.00, for a total value of $14,725,760.00. The disclosure for this sale can be found here. In the last three months, insiders sold 170,184 shares of company stock valued at $23,752,510. 0.41% of the stock is currently owned by insiders.
Applied Materials Profile
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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