Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Burke & Herbert Bank & Trust Co.

Burke & Herbert Bank & Trust Co. raised its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 123.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,051 shares of the manufacturing equipment provider’s stock after buying an additional 2,238 shares during the period. Burke & Herbert Bank & Trust Co.’s holdings in Applied Materials were worth $956,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AMAT. Redmont Wealth Advisors LLC acquired a new position in Applied Materials in the first quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC bought a new position in Applied Materials during the fourth quarter worth about $27,000. Mark Sheptoff Financial Planning LLC bought a new stake in Applied Materials in the first quarter valued at $35,000. RFP Financial Group LLC lifted its holdings in Applied Materials by 96.6% during the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock valued at $36,000 after purchasing an additional 85 shares during the last quarter. Finally, DSM Capital Partners LLC bought a new position in Applied Materials in the 4th quarter valued at $37,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Teri A. Little sold 7,500 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $213.02, for a total value of $1,597,650.00. Following the completion of the transaction, the senior vice president now owns 78,712 shares in the company, valued at approximately $16,767,230.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of the company’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the completion of the transaction, the senior vice president now owns 78,712 shares in the company, valued at $16,767,230.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the sale, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The disclosure for this sale can be found here. Insiders have sold a total of 89,827 shares of company stock worth $21,382,560 in the last ninety days. 0.29% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Stifel Nicolaus upped their price target on Applied Materials from $240.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, July 15th. Cantor Fitzgerald lifted their target price on Applied Materials from $260.00 to $290.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Susquehanna increased their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Mizuho upped their price target on shares of Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Raymond James increased their price target on Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Six analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and an average price target of $226.00.

Applied Materials Trading Up 4.0 %

Shares of AMAT stock opened at $200.80 on Wednesday. The stock’s 50-day moving average price is $223.41 and its 200-day moving average price is $209.16. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89. The stock has a market capitalization of $166.26 billion, a price-to-earnings ratio of 23.08, a price-to-earnings-growth ratio of 2.45 and a beta of 1.56. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30.

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

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a $0.40 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 annualized dividend and a yield of 0.80%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

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.