SVB Wealth LLC Has $2.80 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

SVB Wealth LLC decreased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,569 shares of the manufacturing equipment provider’s stock after selling 632 shares during the quarter. SVB Wealth LLC’s holdings in Applied Materials were worth $2,798,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Ritholtz Wealth Management lifted its position in shares of Applied Materials by 7.4% during the 4th quarter. Ritholtz Wealth Management now owns 11,367 shares of the manufacturing equipment provider’s stock worth $1,842,000 after buying an additional 782 shares during the last quarter. Inscription Capital LLC bought a new position in shares of Applied Materials during the fourth quarter worth about $397,000. Blue Trust Inc. raised its position in shares of Applied Materials by 10.5% during the fourth quarter. Blue Trust Inc. now owns 4,687 shares of the manufacturing equipment provider’s stock worth $760,000 after acquiring an additional 445 shares during the last quarter. Caprock Group LLC increased its holdings in Applied Materials by 3.3% in the fourth quarter. Caprock Group LLC now owns 12,950 shares of the manufacturing equipment provider’s stock worth $2,099,000 after purchasing an additional 419 shares in the last quarter. Finally, Chilton Capital Management LLC grew its stake in Applied Materials by 692.9% in the fourth quarter. Chilton Capital Management LLC now owns 2,775 shares of the manufacturing equipment provider’s stock valued at $450,000 after acquiring an additional 2,425 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Down 0.4 %

AMAT stock traded down $0.90 during trading on Monday, hitting $205.57. 4,197,982 shares of the company traded hands, compared to its average volume of 5,753,539. The firm has a market capitalization of $170.21 billion, a PE ratio of 24.24, a P/E/G ratio of 2.58 and a beta of 1.56. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a 50-day moving average of $229.49 and a 200-day moving average of $206.53. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.12. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. Applied Materials’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.00 EPS. Analysts predict that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s payout ratio is 18.39%.

Wall Street Analysts Forecast Growth

AMAT has been the topic of several analyst reports. Susquehanna lifted their target price on Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Raymond James lifted their price target on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Friday, May 17th. Evercore ISI assumed coverage on Applied Materials in a report on Tuesday, April 16th. They set an “outperform” rating and a $260.00 price target on the stock. Cantor Fitzgerald lifted their price target on Applied Materials from $260.00 to $290.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. Finally, Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $165.00 to $225.00 in a research note on Wednesday, June 5th. Six research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average price target of $224.84.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the transaction, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Thomas J. Iannotti sold 9,827 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $236.65, for a total value of $2,325,559.55. Following the completion of the transaction, the director now owns 49,185 shares of the company’s stock, valued at approximately $11,639,630.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Prabu G. Raja sold 50,000 shares of the stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the completion of the transaction, the insider now directly owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The disclosure for this sale can be found here. Insiders sold 89,827 shares of company stock valued at $21,382,560 in the last 90 days. Insiders own 0.29% of the company’s stock.

Applied Materials 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.