Horizon Investment Services LLC Buys 86 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Horizon Investment Services LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 38,294 shares of the manufacturing equipment provider’s stock after purchasing an additional 86 shares during the period. Applied Materials accounts for about 4.3% of Horizon Investment Services LLC’s portfolio, making the stock its 4th largest holding. Horizon Investment Services LLC’s holdings in Applied Materials were worth $9,037,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new position in Applied Materials in the first quarter valued at approximately $26,000. Summit Securities Group LLC acquired a new position in Applied Materials in the second quarter valued at approximately $26,000. Atlantic Edge Private Wealth Management LLC acquired a new position in Applied Materials in the fourth quarter valued at approximately $27,000. Mark Sheptoff Financial Planning LLC acquired a new position in Applied Materials in the first quarter valued at approximately $35,000. Finally, RFP Financial Group LLC lifted its holdings in Applied Materials by 96.6% in 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 during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Down 1.2 %

Applied Materials stock opened at $180.24 on Friday. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. 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 cap of $149.23 billion, a PE ratio of 20.72, a P/E/G ratio of 2.35 and a beta of 1.56. The stock’s fifty day moving average is $211.19 and its two-hundred day moving average is $211.29.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the firm earned $1.90 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Applied Materials, Inc. will post 8.47 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced 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 0.89%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

Insider Transactions at Applied Materials

In other 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 transaction of $2,325,559.55. Following the sale, the director now owns 49,185 shares in the company, valued at $11,639,630.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Prabu G. Raja sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 458,417 shares of the company’s stock, valued at $114,223,763.89. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Thomas J. Iannotti sold 9,827 shares of the firm’s 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 transaction, the director now directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Thursday. Mizuho upped their price target on Applied Materials from $225.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Needham & Company LLC restated a “buy” rating and set a $260.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Finally, Barclays upgraded Applied Materials from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $165.00 to $225.00 in a research note on Wednesday, June 5th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $233.14.

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.