Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Thrive Wealth Management LLC

Thrive Wealth Management LLC boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 13.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,886 shares of the manufacturing equipment provider’s stock after acquiring an additional 218 shares during the quarter. Thrive Wealth Management LLC’s holdings in Applied Materials were worth $273,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Financial Freedom LLC purchased a new stake in shares of Applied Materials during the fourth quarter worth approximately $25,000. GoalVest Advisory LLC boosted its holdings in Applied Materials by 1,666.7% in the 1st quarter. GoalVest Advisory LLC now owns 212 shares of the manufacturing equipment provider’s stock valued at $26,000 after purchasing an additional 200 shares during the last quarter. Chelsea Counsel Co. purchased a new stake in shares of Applied Materials in the 1st quarter valued at approximately $28,000. Steward Financial Group LLC increased its holdings in shares of Applied Materials by 173.9% during the 1st quarter. Steward Financial Group LLC now owns 252 shares of the manufacturing equipment provider’s stock worth $30,000 after buying an additional 160 shares during the last quarter. Finally, M&R Capital Management Inc. raised its position in shares of Applied Materials by 110.0% during the 2nd quarter. M&R Capital Management Inc. now owns 210 shares of the manufacturing equipment provider’s stock valued at $30,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 77.24% of the company’s stock.

Insider Transactions at Applied Materials

In related news, CFO Brice Hill sold 1,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $150.04, for a total transaction of $150,040.00. Following the completion of the transaction, the chief financial officer now directly owns 106,023 shares of the company’s stock, valued at $15,907,690.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Teri A. Little sold 10,000 shares of the firm’s stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $142.00, for a total value of $1,420,000.00. Following the completion of the sale, the senior vice president now owns 69,504 shares in the company, valued at $9,869,568. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Brice Hill sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $150.04, for a total transaction of $150,040.00. Following the transaction, the chief financial officer now owns 106,023 shares in the company, valued at $15,907,690.92. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AMAT shares. Wolfe Research initiated coverage on Applied Materials in a report on Thursday, September 14th. They set an “outperform” rating and a $185.00 price target for the company. B. Riley lifted their target price on shares of Applied Materials from $150.00 to $175.00 in a report on Monday, July 17th. Berenberg Bank upped their price target on Applied Materials from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, August 18th. Morgan Stanley lifted their price objective on Applied Materials from $125.00 to $139.00 and gave the company an “equal weight” rating in a research note on Friday, August 18th. Finally, Sanford C. Bernstein increased their target price on Applied Materials from $150.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $150.41.

Applied Materials Price Performance

Shares of AMAT opened at $140.27 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.59 and a current ratio of 2.30. Applied Materials, Inc. has a fifty-two week low of $71.12 and a fifty-two week high of $155.26. The firm has a 50-day simple moving average of $145.04 and a 200-day simple moving average of $131.99. The company has a market capitalization of $117.76 billion, a price-to-earnings ratio of 18.51, a price-to-earnings-growth ratio of 3.00 and a beta of 1.60.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 17th. The manufacturing equipment provider reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.16. Applied Materials had a return on equity of 49.29% and a net margin of 24.27%. The company had revenue of $6.43 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period last year, the firm earned $1.94 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Applied Materials, Inc. will post 7.9 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Shareholders of record on Friday, November 24th will be given a dividend of $0.32 per share. The ex-dividend date is Wednesday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s payout ratio is currently 16.89%.

About Applied Materials

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.