Applied Materials, Inc. (NASDAQ:AMAT) is Delta Financial Advisors LLC’s 6th Largest Position

Delta Financial Advisors LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,479 shares of the manufacturing equipment provider’s stock after selling 85 shares during the period. Applied Materials comprises approximately 3.2% of Delta Financial Advisors LLC’s portfolio, making the stock its 6th biggest position. Delta Financial Advisors LLC’s holdings in Applied Materials were worth $8,373,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new position in shares of Applied Materials in the first quarter worth $26,000. Summit Securities Group LLC acquired a new position in Applied Materials in the 2nd quarter worth about $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Applied Materials during the 4th quarter worth about $27,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Applied Materials during the 1st quarter valued at about $35,000. Finally, RFP Financial Group LLC increased 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 worth $36,000 after buying 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 3.0 %

Shares of AMAT opened at $174.75 on Friday. The company has a 50-day simple moving average of $209.96 and a 200-day simple moving average of $211.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89. The firm has a market capitalization of $144.69 billion, a P/E ratio of 20.09, a P/E/G ratio of 2.35 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data 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 net margin of 27.74% and a return on equity of 39.99%. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same period last year, the firm earned $1.90 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. On average, equities research analysts expect that Applied Materials, Inc. will post 8.47 earnings per share for the current 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. The ex-dividend date is Thursday, August 22nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Applied Materials’s payout ratio is currently 18.39%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AMAT shares. Bank of America lifted their target price on shares of Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company upped their price objective on shares of Applied Materials from $255.00 to $280.00 and gave the stock an “overweight” rating in a report on Monday, June 17th. JPMorgan Chase & Co. increased their target price on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Susquehanna upped their price target on Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Finally, 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. Seven analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $233.14.

Insiders Place Their Bets

In related news, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction that occurred on 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 sale, the director now directly 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 at this link. In other news, Director Thomas J. Iannotti sold 9,827 shares of the firm’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 directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 value of $12,458,500.00. Following the completion of the sale, the insider now 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. Company 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.