Prime Capital Investment Advisors LLC Has $13.82 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Prime Capital Investment Advisors LLC reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 5.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 58,556 shares of the manufacturing equipment provider’s stock after selling 3,434 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Applied Materials were worth $13,819,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials in the 1st quarter valued at approximately $26,000. Summit Securities Group LLC bought a new stake in shares of Applied Materials in the second quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Applied Materials in the first quarter worth $35,000. Finally, RFP Financial Group LLC increased 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 worth $36,000 after acquiring an additional 85 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $188.47 on Friday. The stock has a market capitalization of $155.37 billion, a P/E ratio of 21.66, a price-to-earnings-growth ratio of 2.21 and a beta of 1.55. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The firm has a 50 day moving average of $204.08 and a 200-day moving average of $210.71.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the firm posted $1.90 EPS. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

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

Analyst Ratings Changes

AMAT has been the topic of several research analyst reports. Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $165.00 to $225.00 in a research report on Wednesday, June 5th. Morgan Stanley lifted their target price on Applied Materials from $223.00 to $224.00 and gave the stock an “equal weight” rating in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft cut their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a report on Friday, August 16th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Finally, Citigroup cut 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 analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $234.95.

Insider Buying and Selling at Applied Materials

In other news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the transaction, the insider now directly owns 458,417 shares in the company, valued at $114,223,763.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Thomas J. Iannotti sold 9,827 shares of Applied Materials stock in a transaction dated 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 directly owns 49,185 shares in the company, valued at $11,639,630.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $249.17, for a total transaction of $12,458,500.00. Following the transaction, the insider now owns 458,417 shares in the company, valued at $114,223,763.89. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Applied Materials 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.