Oppenheimer Asset Management Inc. Reduces Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Oppenheimer Asset Management Inc. trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 29.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,848 shares of the manufacturing equipment provider’s stock after selling 14,854 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Applied Materials were worth $7,393,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AMAT. Financial Management Professionals Inc. lifted its stake in shares of Applied Materials by 5.6% during the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock worth $191,000 after purchasing an additional 49 shares during the last quarter. Heritage Wealth Advisors increased its position in Applied Materials by 1.0% during the 4th quarter. Heritage Wealth Advisors now owns 5,217 shares of the manufacturing equipment provider’s stock valued at $846,000 after buying an additional 54 shares in the last quarter. F M Investments LLC raised its stake in Applied Materials by 2.9% in the first quarter. F M Investments LLC now owns 2,098 shares of the manufacturing equipment provider’s stock valued at $434,000 after buying an additional 59 shares during the last quarter. Breakwater Capital Group grew its stake in shares of Applied Materials by 4.3% during the first quarter. Breakwater Capital Group now owns 1,445 shares of the manufacturing equipment provider’s stock worth $298,000 after acquiring an additional 60 shares during the last quarter. Finally, Gilbert & Cook Inc. increased its holdings in shares of Applied Materials by 1.5% during the first quarter. Gilbert & Cook Inc. now owns 4,243 shares of the manufacturing equipment provider’s stock valued at $875,000 after acquiring an additional 61 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on AMAT shares. Deutsche Bank Aktiengesellschaft assumed coverage on Applied Materials in a research note on Thursday, April 11th. They set a “hold” rating and a $225.00 price target on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $260.00 price target on shares of Applied Materials in a research report on Friday, May 17th. TD Cowen upped their price objective on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Stifel Nicolaus reiterated a “buy” rating and issued a $230.00 price objective on shares of Applied Materials in a research note on Wednesday, May 15th. Finally, Mizuho boosted their target price on shares of Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $221.84.

Insider Buying and Selling

In other news, Director Thomas J. Iannotti sold 9,827 shares of the firm’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $236.65, for a total value of $2,325,559.55. Following the sale, the director now directly owns 49,185 shares in the company, valued at approximately $11,639,630.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Prabu G. Raja sold 50,000 shares of the 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 of the company’s stock, valued at approximately $114,223,763.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction 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 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.

Applied Materials Trading Up 0.9 %

NASDAQ:AMAT traded up $2.14 during trading hours on Friday, reaching $243.40. 5,396,287 shares of the stock were exchanged, compared to its average volume of 4,767,457. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average of $227.53 and a two-hundred day moving average of $201.40. The company has a market capitalization of $201.53 billion, a price-to-earnings ratio of 27.98, a PEG ratio of 3.16 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 27.57% and a return on equity of 41.22%. During the same quarter in the prior year, the company earned $2.00 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts predict that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials Announces Dividend

The business 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 0.66%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio is presently 18.39%.

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.