Thomasville National Bank Sells 80 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Thomasville National Bank lowered its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund 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 SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AMAT. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials during the 1st quarter valued at $26,000. Atlantic Edge Private Wealth Management LLC purchased a new stake in shares of Applied Materials in the 4th quarter worth about $27,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Applied Materials in the 1st quarter worth about $35,000. RFP Financial Group LLC lifted its position in shares of Applied Materials by 96.6% in the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after purchasing an additional 85 shares during the period. Finally, DSM Capital Partners LLC purchased a new stake in shares of Applied Materials in the 4th quarter worth about $37,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT traded down $4.80 on Wednesday, reaching $178.51. The company’s stock had a trading volume of 6,645,568 shares, compared to its average volume of 5,920,971. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The company has a market cap of $147.80 billion, a P/E ratio of 20.52, a PEG ratio of 2.45 and a beta of 1.56. The company has a 50-day simple moving average of $225.06 and a 200 day simple moving average of $208.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. During the same period in the previous year, the company earned $2.00 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Applied Materials, Inc. will post 8.31 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.90%. Applied Materials’s dividend payout ratio is currently 18.39%.

Insider Activity

In other news, Director Thomas J. Iannotti sold 9,827 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 49,185 shares in the company, valued at approximately $11,639,630.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total transaction of $4,446,800.00. Following the completion of the transaction, the chief financial officer now owns 108,356 shares in the company, valued at approximately $24,091,873.04. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Thomas J. Iannotti sold 9,827 shares of the company’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 transaction, the director now owns 49,185 shares in the company, valued at approximately $11,639,630.25. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,827 shares of company stock worth $21,382,560. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently commented on AMAT. Cantor Fitzgerald raised their target price on shares of Applied Materials from $260.00 to $290.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 16th. Jefferies Financial Group cut shares of Applied Materials from a “buy” rating to a “hold” rating and lowered their price target for the company from $215.00 to $210.00 in a research report on Monday, May 13th. Citigroup lowered their price target on shares of Applied Materials from $250.00 to $240.00 and set a “buy” rating for the company in a research report on Monday. Mizuho raised their price objective on shares of Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, Evercore ISI began coverage on shares of Applied Materials in a research note on Tuesday, April 16th. They set an “outperform” rating and a $260.00 price objective for the company. Six analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average price target of $226.00.

Applied Materials Company 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.