Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Guardian Wealth Advisors LLC NC

Posted by Defense World Staff on Sep 11th, 2023

Guardian Wealth Advisors LLC NC reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,229 shares of the manufacturing equipment provider’s stock after selling 109 shares during the period. Guardian Wealth Advisors LLC NC’s holdings in Applied Materials were worth $397,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of AMAT. BlackRock Inc. increased its stake in Applied Materials by 0.8% in the 1st quarter. BlackRock Inc. now owns 69,748,762 shares of the manufacturing equipment provider’s stock worth $8,567,240,000 after purchasing an additional 520,503 shares in the last quarter. Geode Capital Management LLC increased its stake in Applied Materials by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 15,911,113 shares of the manufacturing equipment provider’s stock worth $1,547,031,000 after purchasing an additional 211,646 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Applied Materials by 53.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,263,246 shares of the manufacturing equipment provider’s stock worth $1,194,195,000 after purchasing an additional 4,277,485 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Applied Materials by 3.3% in the 1st quarter. Bank of New York Mellon Corp now owns 11,355,075 shares of the manufacturing equipment provider’s stock worth $1,394,744,000 after purchasing an additional 366,907 shares in the last quarter. Finally, Norges Bank purchased a new position in Applied Materials in the 4th quarter worth about $930,505,000. 77.24% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Teri A. Little sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $142.00, for a total transaction of $1,420,000.00. Following the sale, the senior vice president now directly owns 69,504 shares in the company, valued at $9,869,568. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Applied Materials news, CFO Brice Hill sold 1,000 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $150.04, for a total value of $150,040.00. Following the sale, the chief financial officer now directly owns 106,023 shares in the company, valued at $15,907,690.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Teri A. Little sold 10,000 shares of the company’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $142.00, for a total value of $1,420,000.00. Following the completion of the sale, the senior vice president now owns 69,504 shares in the company, valued at $9,869,568. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMAT has been the topic of a number of analyst reports. Needham & Company LLC cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Berenberg Bank lifted their target price on Applied Materials from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, August 18th. Sanford C. Bernstein lifted their target price on Applied Materials from $150.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, August 18th. Morgan Stanley lifted their target price on Applied Materials from $125.00 to $139.00 and gave the company an “equal weight” rating in a research note on Friday, August 18th. Finally, Citigroup lifted their price target on Applied Materials from $160.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.08.

Get Our Latest Analysis on AMAT

Applied Materials Stock Down 0.5 %

Shares of AMAT stock opened at $147.53 on Monday. Applied Materials, Inc. has a 12 month low of $71.12 and a 12 month high of $155.26. The firm has a market cap of $123.86 billion, a PE ratio of 19.46, a price-to-earnings-growth ratio of 3.10 and a beta of 1.60. The stock has a 50 day moving average of $144.94 and a 200-day moving average of $130.95. The company has a quick ratio of 1.59, a current ratio of 2.30 and a debt-to-equity ratio of 0.36.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its quarterly earnings results on Thursday, August 17th. The manufacturing equipment provider reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.16. Applied Materials had a return on equity of 49.29% and a net margin of 24.27%. The company had revenue of $6.43 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period in the previous year, the company earned $1.94 earnings per share. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities analysts predict that Applied Materials, Inc. will post 7.85 EPS for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Friday, November 24th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, November 22nd. Applied Materials’s dividend payout ratio is presently 16.89%.

Applied Materials Company Profile

(Free Report)

Applied Materials, Inc engages in the provision of manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.