Rep. Marjorie Taylor Greene Buys Applied Materials, Inc. (NASDAQ:AMAT) Stock

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Applied Materials, Inc. (NASDAQ:AMAT). In a filing disclosed on October 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Applied Materials stock on October 4th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Costco Wholesale (NASDAQ:COST) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Visa (NYSE:V) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of ASML (NASDAQ:ASML) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Lam Research (NASDAQ:LRCX) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of JPMorgan Chase & Co. (NYSE:JPM) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 10/4/2024.
• Purchased $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 9/20/2024.
• Purchased $1,001 – $15,000 in shares of Cardinal Health (NYSE:CAH) on 9/20/2024.
• Purchased $1,001 – $15,000 in shares of United Parcel Service (NYSE:UPS) on 9/20/2024.

Applied Materials Trading Up 0.1 %

Shares of NASDAQ AMAT traded up $0.18 during trading on Thursday, hitting $184.77. 5,532,458 shares of the company were exchanged, compared to its average volume of 6,081,527. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The company has a fifty day moving average price of $195.86 and a 200-day moving average price of $209.55. The firm has a market capitalization of $152.98 billion, a PE ratio of 21.22, a P/E/G ratio of 2.66 and a beta of 1.54.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. Applied Materials’s dividend payout ratio is presently 18.39%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on AMAT shares. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Tuesday, October 8th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 target price on shares of Applied Materials in a report on Friday, August 16th. Susquehanna cut their price objective on Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, Stifel Nicolaus cut their price target on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

Institutional Trading of Applied Materials

A number of hedge funds have recently added to or reduced their stakes in the stock. Madrona Financial Services LLC increased its stake in shares of Applied Materials by 7.4% during the third quarter. Madrona Financial Services LLC now owns 1,347 shares of the manufacturing equipment provider’s stock worth $272,000 after acquiring an additional 93 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Applied Materials by 2.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 93,258 shares of the manufacturing equipment provider’s stock valued at $18,843,000 after purchasing an additional 2,035 shares in the last quarter. Trust Co. of Vermont lifted its holdings in shares of Applied Materials by 1.7% in the third quarter. Trust Co. of Vermont now owns 139,691 shares of the manufacturing equipment provider’s stock valued at $28,225,000 after purchasing an additional 2,296 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in shares of Applied Materials by 5.3% in the third quarter. Bleakley Financial Group LLC now owns 32,707 shares of the manufacturing equipment provider’s stock valued at $6,608,000 after purchasing an additional 1,655 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Applied Materials by 11.0% in the third quarter. Global Retirement Partners LLC now owns 8,633 shares of the manufacturing equipment provider’s stock valued at $1,744,000 after purchasing an additional 858 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.