Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Thomasville National Bank

Thomasville National Bank cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 5.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 1,270 shares of the manufacturing equipment provider’s stock after selling 80 shares during the period. Thomasville National Bank’s holdings in Applied Materials were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of AMAT. Allworth Financial LP increased its holdings in shares of Applied Materials by 3.5% during the fourth quarter. Allworth Financial LP now owns 14,465 shares of the manufacturing equipment provider’s stock valued at $2,344,000 after purchasing an additional 486 shares during the period. Venture Visionary Partners LLC boosted its stake in Applied Materials by 44.7% during the fourth quarter. Venture Visionary Partners LLC now owns 5,185 shares of the manufacturing equipment provider’s stock valued at $841,000 after buying an additional 1,601 shares in the last quarter. Stratos Wealth Advisors LLC boosted its stake in Applied Materials by 15.8% during the fourth quarter. Stratos Wealth Advisors LLC now owns 8,464 shares of the manufacturing equipment provider’s stock valued at $1,372,000 after buying an additional 1,152 shares in the last quarter. Stratos Wealth Partners LTD. boosted its stake in Applied Materials by 8.5% during the fourth quarter. Stratos Wealth Partners LTD. now owns 23,618 shares of the manufacturing equipment provider’s stock valued at $3,828,000 after buying an additional 1,846 shares in the last quarter. Finally, Tritonpoint Wealth LLC bought a new position in Applied Materials during the fourth quarter valued at about $369,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of AMAT stock traded down $4.80 during trading hours on Wednesday, reaching $178.51. 6,645,568 shares of the company’s stock were exchanged, compared to its average volume of 5,920,971. The stock has a market capitalization of $147.80 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.45 and a beta of 1.56. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89. The business has a fifty day moving average price of $225.06 and a 200-day moving average price of $208.21.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.97 by $0.12. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. Applied Materials’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $2.00 earnings per share. Analysts predict that Applied Materials, Inc. will post 8.31 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio is presently 18.39%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AMAT shares. Needham & Company LLC reaffirmed a “buy” rating and set a $240.00 target price on shares of Applied Materials in a research note on Friday, May 17th. Deutsche Bank Aktiengesellschaft started coverage on Applied Materials in a research note on Thursday, April 11th. They set a “hold” rating and a $225.00 target price for the company. TD Cowen raised their target price on Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Susquehanna increased their price target on Applied Materials from $160.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 16th. Finally, Jefferies Financial Group lowered Applied Materials from a “buy” rating to a “hold” rating and decreased their price target for the company from $215.00 to $210.00 in a research report on Monday, May 13th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average target price of $226.00.

Insider Activity

In other news, insider Prabu G. Raja sold 50,000 shares of the business’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 transaction of $12,458,500.00. Following the sale, the insider now directly owns 458,417 shares in the company, valued at $114,223,763.89. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Applied Materials news, Director Thomas J. Iannotti sold 9,827 shares of the business’s 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 transaction, the director now owns 49,185 shares of the company’s stock, valued at $11,639,630.25. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 458,417 shares in the company, valued at approximately $114,223,763.89. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,827 shares of company stock worth $21,382,560. Company insiders own 0.29% of the company’s stock.

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.