Whelan Financial Sells 196 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Whelan Financial reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,565 shares of the manufacturing equipment provider’s stock after selling 196 shares during the period. Whelan Financial’s holdings in Applied Materials were worth $227,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMAT. Belpointe Asset Management LLC boosted its holdings in Applied Materials by 1.7% in the 4th quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider’s stock valued at $607,000 after purchasing an additional 62 shares during the period. Hills Bank & Trust Co boosted its holdings in Applied Materials by 6.6% in the 4th quarter. Hills Bank & Trust Co now owns 1,061 shares of the manufacturing equipment provider’s stock valued at $173,000 after purchasing an additional 66 shares during the period. Silver Oak Securities Incorporated boosted its holdings in Applied Materials by 4.7% in the 1st quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider’s stock valued at $218,000 after purchasing an additional 68 shares during the period. TCTC Holdings LLC boosted its holdings in Applied Materials by 7.7% in the 4th quarter. TCTC Holdings LLC now owns 977 shares of the manufacturing equipment provider’s stock valued at $159,000 after purchasing an additional 70 shares during the period. Finally, Fourpath Capital Management LLC increased its position in shares of Applied Materials by 0.8% during the first quarter. Fourpath Capital Management LLC now owns 9,566 shares of the manufacturing equipment provider’s stock valued at $1,388,000 after purchasing an additional 73 shares during the period. 80.56% of the stock is owned by institutional investors.

Applied Materials Trading Up 0.4%

Shares of NASDAQ AMAT opened at $190.86 on Friday. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89. The company has a market cap of $153.17 billion, a PE ratio of 23.22, a P/E/G ratio of 2.13 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. The company has a 50-day moving average of $167.47 and a two-hundred day moving average of $163.93.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share 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 company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the previous year, the firm posted $2.09 earnings per share. The company’s revenue was up 6.8% on a year-over-year basis. As a group, equities analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio is presently 22.38%.

Applied Materials announced that its board has authorized a share buyback program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Raymond James Financial restated an “outperform” rating and set a $200.00 price objective (down from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Mizuho reduced their price objective on shares of Applied Materials from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, May 16th. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Applied Materials in a report on Friday, May 16th. Jefferies Financial Group raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a report on Friday, March 28th. Finally, Barclays reduced their price objective on shares of Applied Materials from $190.00 to $160.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and an average price target of $200.76.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the business’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the transaction, the chief accounting officer directly 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 accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Company 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.