Applied Materials, Inc. (NASDAQ:AMAT) Position Increased by B. Riley Wealth Management Inc.

B. Riley Wealth Management Inc. raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 7.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,464 shares of the manufacturing equipment provider’s stock after buying an additional 302 shares during the quarter. B. Riley Wealth Management Inc.’s holdings in Applied Materials were worth $636,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMAT. Gleason Group Inc. lifted its position in shares of Applied Materials by 124.5% in the second quarter. Gleason Group Inc. now owns 229 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 127 shares in the last quarter. Cypress Point Wealth Management LLC purchased a new stake in shares of Applied Materials in the second quarter worth approximately $36,000. Twin Lakes Capital Management LLC purchased a new stake in shares of Applied Materials in the first quarter worth approximately $40,000. Sargent Bickham Lagudis LLC lifted its position in shares of Applied Materials by 190.5% in the first quarter. Sargent Bickham Lagudis LLC now owns 305 shares of the manufacturing equipment provider’s stock worth $41,000 after purchasing an additional 200 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its position in shares of Applied Materials by 70.6% in the second quarter. North Star Investment Management Corp. now owns 290 shares of the manufacturing equipment provider’s stock worth $41,000 after purchasing an additional 120 shares in the last quarter. 75.37% of the stock is owned by institutional investors.

Several equities analysts recently weighed in on the stock. Susquehanna Bancshares lowered shares of Applied Materials from a “positive” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $160.00 in a research report on Tuesday, September 14th. Morgan Stanley raised their price objective on shares of Applied Materials from $139.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, August 20th. Mizuho raised their price objective on shares of Applied Materials from $158.00 to $161.00 and gave the company a “buy” rating in a research report on Friday, August 20th. Susquehanna lowered shares of Applied Materials from a “positive” rating to a “neutral” rating and cut their price objective for the company from $170.00 to $160.00 in a research report on Tuesday, September 14th. Finally, Daiwa Capital Markets assumed coverage on shares of Applied Materials in a research report on Thursday, August 19th. They set an “outperform” rating and a $140.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $152.85.

Shares of NASDAQ AMAT opened at $141.92 on Friday. The business has a fifty day moving average of $136.15 and a two-hundred day moving average of $133.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.17 and a current ratio of 2.98. Applied Materials, Inc. has a 52-week low of $56.65 and a 52-week high of $146.00. The stock has a market cap of $128.14 billion, a PE ratio of 24.68, a PEG ratio of 1.03 and a beta of 1.44.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Wednesday, August 18th. The manufacturing equipment provider reported $1.90 EPS for the quarter, topping the Zacks’ consensus estimate of $1.77 by $0.13. The firm had revenue of $6.20 billion during the quarter, compared to analyst estimates of $5.92 billion. Applied Materials had a return on equity of 49.27% and a net margin of 24.54%. During the same period last year, the company earned $1.06 earnings per share. Analysts predict that Applied Materials, Inc. will post 6.84 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 16th. Stockholders of record on Friday, November 26th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 24th. This represents a $0.96 annualized dividend and a dividend yield of 0.68%. Applied Materials’s payout ratio is currently 23.02%.

In related news, SVP Ginetto Addiego sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $134.83, for a total value of $5,393,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Daniel Durn sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, August 2nd. The shares were sold at an average price of $143.76, for a total value of $862,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 115,500 shares of company stock valued at $16,042,275 over the last 90 days. Corporate insiders own 0.37% of the company’s stock.

About Applied Materials

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for deposition, etch, ion implantation, rapid thermal processing, chemical mechanical planarization, metrology and inspection, and wafer level packaging.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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