Hillsdale Investment Management Inc. Has $1.18 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Hillsdale Investment Management Inc. lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 25.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 5,704 shares of the manufacturing equipment provider’s stock after selling 1,990 shares during the period. Hillsdale Investment Management Inc.’s holdings in Applied Materials were worth $1,176,000 as of its most recent filing with the SEC.

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

Analysts Set New Price Targets

A number of research firms have issued reports on AMAT. Evercore ISI began coverage on Applied Materials in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 target price for the company. Raymond James boosted their target price on Applied Materials from $225.00 to $235.00 and gave the stock an “outperform” rating in a research report on Friday, May 17th. Cantor Fitzgerald boosted their target price on Applied Materials from $260.00 to $290.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Stifel Nicolaus lifted their price target on Applied Materials from $240.00 to $275.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Finally, B. Riley lifted their price target on Applied Materials from $255.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $224.84.

Applied Materials Stock Up 6.3 %

Shares of AMAT stock traded up $13.21 during midday trading on Monday, reaching $223.47. 7,509,594 shares of the stock were exchanged, compared to its average volume of 5,728,312. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company’s 50 day moving average is $229.86 and its two-hundred day moving average is $204.89. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The firm has a market cap of $185.03 billion, a PE ratio of 25.69, a price-to-earnings-growth ratio of 2.63 and a beta of 1.56.

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

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.72%. Applied Materials’s payout ratio is currently 18.39%.

Insider Buying and Selling

In related 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 value of $2,325,559.55. Following the sale, the director now owns 49,185 shares in the company, valued at approximately $11,639,630.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, SVP Teri A. Little sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $221.62, for a total value of $554,050.00. Following the transaction, the senior vice president now directly owns 76,212 shares of the company’s stock, valued at approximately $16,890,103.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction that occurred on Friday, June 21st. The shares were 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 directly owns 49,185 shares in the company, valued at $11,639,630.25. The disclosure for this sale can be found here. Insiders have sold 89,827 shares of company stock worth $21,382,560 in the last 90 days. Insiders own 0.29% 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.