Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Gilbert & Cook Inc.

Gilbert & Cook Inc. lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 6.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,969 shares of the manufacturing equipment provider’s stock after selling 274 shares during the quarter. Gilbert & Cook Inc.’s holdings in Applied Materials were worth $937,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials during the first quarter valued at $26,000. Summit Securities Group LLC acquired a new stake in shares of Applied Materials during the 2nd quarter valued at about $26,000. Atlantic Edge Private Wealth Management LLC bought a new stake in shares of Applied Materials in the 4th quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in Applied Materials in the first quarter worth approximately $35,000. Finally, RFP Financial Group LLC raised its position 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 acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AMAT shares. Stifel Nicolaus decreased their price objective on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 16th. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $165.00 to $225.00 in a report on Wednesday, June 5th. Citigroup lowered their price target on Applied Materials from $250.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, August 5th. Susquehanna boosted their price objective on shares of Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research report on Friday, August 16th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $233.14.

Insiders Place Their Bets

In related news, SVP Teri A. Little sold 2,500 shares of the firm’s stock in a transaction dated 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 owns 76,212 shares in the company, valued at $16,890,103.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total value of $12,458,500.00. Following the completion of the sale, the insider now owns 458,417 shares in the company, valued at approximately $114,223,763.89. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Teri A. Little sold 2,500 shares of Applied Materials stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $221.62, for a total value of $554,050.00. Following the transaction, the senior vice president now owns 76,212 shares in the company, valued at approximately $16,890,103.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 62,327 shares of company stock valued at $15,338,110. Insiders own 0.29% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT stock traded up $4.28 during mid-day trading on Monday, reaching $197.26. The company’s stock had a trading volume of 7,313,800 shares, compared to its average volume of 6,009,406. 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 firm’s 50-day moving average is $214.90 and its two-hundred day moving average is $211.76. The company has a market cap of $162.62 billion, a P/E ratio of 22.67, a PEG ratio of 2.35 and a beta of 1.56. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. 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 prior year, the firm earned $1.90 EPS. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts predict that Applied Materials, Inc. will post 8.47 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.81%. Applied Materials’s dividend payout ratio is 18.39%.

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.