Kestra Advisory Services LLC Purchases 2,840 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Kestra Advisory Services LLC raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 57,466 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,840 shares during the quarter. Kestra Advisory Services LLC’s holdings in Applied Materials were worth $11,851,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in shares of Applied Materials in the first quarter worth approximately $26,000. Atlantic Edge Private Wealth Management LLC purchased a new position in shares of Applied Materials in the fourth quarter worth approximately $27,000. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Applied Materials in the first quarter worth approximately $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 valued at $36,000 after purchasing an additional 85 shares in the last quarter. Finally, DSM Capital Partners LLC purchased a new position in Applied Materials during the fourth quarter valued at approximately $37,000. 80.56% of the stock is currently owned by institutional investors.

Insider Transactions at Applied Materials

In related news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the completion of the sale, the insider now directly owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,827 shares of company stock worth $21,382,560. Insiders own 0.29% of the company’s stock.

Applied Materials Trading Up 2.2 %

AMAT stock traded up $4.44 during mid-day trading on Monday, reaching $210.91. 406,923 shares of the stock traded hands, compared to its average volume of 5,727,217. The business has a 50-day moving average price of $229.49 and a two-hundred day moving average price 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. The stock has a market capitalization of $174.63 billion, a PE ratio of 24.24, a PEG ratio of 2.58 and a beta of 1.56. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business’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 expect 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. Stockholders of record on Thursday, August 22nd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.76%. The ex-dividend date of this dividend is Thursday, August 22nd. Applied Materials’s payout ratio is presently 18.39%.

Wall Street Analysts Forecast Growth

AMAT has been the topic of several analyst reports. Jefferies Financial Group downgraded shares of Applied Materials from a “buy” rating to a “hold” rating and lowered their price target for the company from $215.00 to $210.00 in a report on Monday, May 13th. Mizuho lifted their price target on shares of Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. boosted their target price on shares of Applied Materials from $230.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. Wells Fargo & Company boosted their target price on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. Finally, Bank of America boosted their target price on shares of Applied Materials from $222.00 to $250.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $224.84.

About Applied Materials

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.