Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 82,897 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,096 shares during the period. Citizens Financial Group Inc. RI’s holdings in Applied Materials were worth $19,563,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of AMAT. Swedbank AB acquired a new position in Applied Materials in the first quarter worth approximately $773,611,000. Wellington Management Group LLP increased its position in Applied Materials by 3,940.1% during the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock worth $352,626,000 after acquiring an additional 2,121,912 shares during the period. Janus Henderson Group PLC boosted its holdings in Applied Materials by 126.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock valued at $464,974,000 after purchasing an additional 1,259,111 shares during the period. Vanguard Group Inc. raised its position in shares of Applied Materials by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock valued at $12,012,171,000 after buying an additional 973,218 shares during the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new stake in Applied Materials during the first quarter worth about $162,873,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Activity at Applied Materials

In other Applied Materials news, insider Prabu G. Raja sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $249.17, for a total value of $12,458,500.00. Following the sale, the insider now owns 458,417 shares in the company, valued at $114,223,763.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Applied Materials 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 transaction, the insider now directly owns 458,417 shares in the company, valued at $114,223,763.89. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Thomas J. Iannotti sold 9,827 shares of the company’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $236.65, for a total transaction of $2,325,559.55. Following the completion of the transaction, the director now owns 49,185 shares in the company, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Applied Materials Price Performance

NASDAQ:AMAT opened at $188.47 on Monday. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The company has a market cap 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. 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 stock’s 50-day simple moving average is $204.08 and its 200 day simple moving average is $210.80.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion for 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% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 EPS. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company lifted their price target on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a research note on Monday, June 17th. Stifel Nicolaus lowered their price objective on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 16th. StockNews.com cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research report on Friday, August 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a research report on Friday, August 16th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target of $234.95.

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.