Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Argonautica Private Wealth Management Inc.

Argonautica Private Wealth Management Inc. decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,285 shares of the manufacturing equipment provider’s stock after selling 374 shares during the quarter. Applied Materials accounts for approximately 1.9% of Argonautica Private Wealth Management Inc.’s investment portfolio, making the stock its 9th largest position. Argonautica Private Wealth Management Inc.’s holdings in Applied Materials were worth $4,746,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of AMAT. Global Wealth Management Investment Advisory Inc. increased its stake in shares of Applied Materials by 76.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 100 shares during the period. BluePath Capital Management LLC acquired a new stake in Applied Materials during the 3rd quarter valued at approximately $39,000. MCF Advisors LLC increased its position in Applied Materials by 333.8% during the 3rd quarter. MCF Advisors LLC now owns 295 shares of the manufacturing equipment provider’s stock valued at $41,000 after purchasing an additional 227 shares during the period. L2 Asset Management LLC increased its position in Applied Materials by 795.0% during the 3rd quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock valued at $41,000 after purchasing an additional 26,298 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in Applied Materials during the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

NASDAQ:AMAT traded up $5.88 during mid-day trading on Friday, reaching $203.38. The stock had a trading volume of 3,933,453 shares, compared to its average volume of 4,553,379. The firm has a 50 day moving average price of $203.42 and a two-hundred day moving average price of $171.56. The stock has a market capitalization of $168.99 billion, a P/E ratio of 23.93, a P/E/G ratio of 2.95 and a beta of 1.59. Applied Materials, Inc. has a one year low of $109.15 and a one year high of $214.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. The business had revenue of $6.71 billion for the quarter, compared to analysts’ expectations of $6.48 billion. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 EPS. As a group, analysts expect that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a dividend yield of 0.79%. Applied Materials’s payout ratio is 15.06%.

Wall Street Analyst Weigh In

AMAT has been the subject of a number of recent analyst reports. TD Cowen increased their target price on shares of Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Citigroup increased their price target on Applied Materials from $170.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Barclays increased their price target on Applied Materials from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. Deutsche Bank Aktiengesellschaft initiated coverage on Applied Materials in a report on Thursday, April 11th. They set a “hold” rating and a $225.00 price target on the stock. Finally, Raymond James increased their price target on Applied Materials from $180.00 to $225.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $201.50.

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.