swisspartners Ltd. cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 18.5% in the first quarter, Holdings Channel reports. The firm owned 2,200 shares of the manufacturing equipment provider’s stock after selling 500 shares during the quarter. swisspartners Ltd.’s holdings in Applied Materials were worth $294,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Global Retirement Partners LLC raised its holdings in shares of Applied Materials by 1.3% during the first quarter. Global Retirement Partners LLC now owns 6,254 shares of the manufacturing equipment provider’s stock worth $836,000 after acquiring an additional 82 shares during the period. Reynders McVeigh Capital Management LLC lifted its position in Applied Materials by 0.5% during the first quarter. Reynders McVeigh Capital Management LLC now owns 15,456 shares of the manufacturing equipment provider’s stock worth $2,065,000 after acquiring an additional 83 shares during the last quarter. Highland Private Wealth Management lifted its holdings in Applied Materials by 1.7% during the 1st quarter. Highland Private Wealth Management now owns 5,116 shares of the manufacturing equipment provider’s stock worth $683,000 after purchasing an additional 87 shares during the last quarter. Johanson Financial Advisors Inc. lifted its holdings in shares of Applied Materials by 2.2% during the first quarter. Johanson Financial Advisors Inc. now owns 3,974 shares of the manufacturing equipment provider’s stock worth $533,000 after buying an additional 87 shares in the last quarter. Finally, Prestige Wealth Management Group LLC boosted its holdings in Applied Materials by 42.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 297 shares of the manufacturing equipment provider’s stock valued at $25,000 after purchasing an additional 88 shares during the period. Institutional investors own 78.39% of the company’s stock.
AMAT has been the topic of a number of research analyst reports. KeyCorp raised their target price on Applied Materials from $144.00 to $151.00 and gave the company an “overweight” rating in a report on Wednesday, April 7th. Susquehanna Bancshares boosted their target price on shares of Applied Materials from $155.00 to $170.00 and gave the stock a “positive” rating in a report on Friday, May 21st. Wells Fargo & Company increased their price target on Applied Materials from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Wednesday, April 7th. Morgan Stanley lifted their target price on shares of Applied Materials from $137.00 to $139.00 and gave the stock an “equal weight” rating in a research note on Monday, May 24th. Finally, Sanford C. Bernstein began coverage on Applied Materials in a report on Tuesday, March 30th. They issued an “outperform” rating and a $160.00 target price for the company. Two analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Applied Materials currently has a consensus rating of “Buy” and a consensus target price of $153.58.
Applied Materials (NASDAQ:AMAT) last released its earnings results on Wednesday, May 19th. The manufacturing equipment provider reported $1.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.12. Applied Materials had a return on equity of 45.08% and a net margin of 22.35%. The firm had revenue of $5.58 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the previous year, the company posted $0.89 EPS. The company’s revenue for the quarter was up 41.1% compared to the same quarter last year. On average, research analysts forecast that Applied Materials, Inc. will post 6.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 17th. Stockholders of record on Thursday, May 27th will be paid a dividend of $0.24 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Wednesday, May 26th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.71%. Applied Materials’s dividend payout ratio is currently 23.02%.
In other news, Director Thomas J. Iannotti sold 15,000 shares of Applied Materials stock in a transaction on Wednesday, March 31st. The stock was sold at an average price of $131.95, for a total transaction of $1,979,250.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel Durn sold 5,500 shares of the business’s stock in a transaction on Monday, May 3rd. The shares were sold at an average price of $132.96, for a total transaction of $731,280.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 321,443 shares of company stock worth $44,694,744. Company insiders own 0.37% of the company’s stock.
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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