Envestnet Asset Management Inc. Acquires 19,664 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Envestnet Asset Management Inc. raised its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,151,487 shares of the manufacturing equipment provider’s stock after buying an additional 19,664 shares during the quarter. Envestnet Asset Management Inc. owned about 0.14% of Applied Materials worth $271,739,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Oppenheimer Asset Management Inc. grew its position in shares of Applied Materials by 15.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 41,474 shares of the manufacturing equipment provider’s stock worth $9,787,000 after buying an additional 5,626 shares during the last quarter. Wealthspire Advisors LLC grew its position in shares of Applied Materials by 1.4% in the 2nd quarter. Wealthspire Advisors LLC now owns 8,790 shares of the manufacturing equipment provider’s stock worth $2,074,000 after buying an additional 120 shares during the last quarter. Thoroughbred Financial Services LLC grew its position in shares of Applied Materials by 22.8% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 17,512 shares of the manufacturing equipment provider’s stock worth $4,132,000 after buying an additional 3,255 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Applied Materials by 7.7% in the 2nd quarter. Parallel Advisors LLC now owns 16,909 shares of the manufacturing equipment provider’s stock worth $3,990,000 after buying an additional 1,215 shares during the last quarter. Finally, SYM FINANCIAL Corp grew its position in shares of Applied Materials by 76.1% in the 2nd quarter. SYM FINANCIAL Corp now owns 2,199 shares of the manufacturing equipment provider’s stock worth $519,000 after buying an additional 950 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction on Friday, June 21st. The stock was 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 owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction on Friday, June 21st. The stock was 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 owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 458,417 shares of the company’s stock, valued at approximately $114,223,763.89. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Applied Materials Stock Up 2.9 %

AMAT stock opened at $188.47 on Friday. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The business has a fifty day moving average price of $204.08 and a 200-day moving average price of $210.71. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The stock has a market capitalization of $155.37 billion, a P/E ratio of 21.66, a P/E/G ratio of 2.21 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data 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 company had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the company posted $1.90 earnings per share. Applied Materials’s revenue was up 5.5% compared to the same quarter last year. Equities analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is currently 18.39%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $165.00 to $225.00 in a research note on Wednesday, June 5th. Deutsche Bank Aktiengesellschaft lowered their target price on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a research note on Friday, August 16th. Morgan Stanley raised their target price on Applied Materials from $223.00 to $224.00 and gave the company an “equal weight” rating in a research note on Friday, August 16th. Finally, Citigroup lowered their target price on Applied Materials from $250.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, August 5th. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $234.95.

Applied Materials Company Profile

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.