Revolve Wealth Partners LLC Acquires New Shares in Applied Materials, Inc. (NASDAQ:AMAT)

Revolve Wealth Partners LLC acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,009 shares of the manufacturing equipment provider’s stock, valued at approximately $208,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMAT. Atlantic Edge Private Wealth Management LLC purchased a new stake in Applied Materials during the 4th quarter valued at $27,000. DSM Capital Partners LLC purchased a new stake in shares of Applied Materials in the 4th quarter worth $37,000. Accent Capital Management LLC bought a new position in Applied Materials in the 4th quarter worth $41,000. Richardson Financial Services Inc. bought a new position in Applied Materials in the 4th quarter worth $43,000. Finally, First United Bank & Trust bought a new position in Applied Materials in the 4th quarter worth $45,000. 80.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

AMAT has been the subject of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $230.00 price objective on shares of Applied Materials in a report on Wednesday, May 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $240.00 price target on shares of Applied Materials in a report on Friday, May 17th. Evercore ISI assumed coverage on shares of Applied Materials in a report on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 price target for the company. Jefferies Financial Group downgraded 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 report on Monday, May 13th. Finally, TD Cowen increased their price target 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. Six research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $221.84.

Applied Materials Trading Up 0.2 %

NASDAQ:AMAT opened at $232.53 on Friday. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $249.42. The firm has a fifty day simple moving average of $216.53 and a 200-day simple moving average of $194.73. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $192.53 billion, a P/E ratio of 26.73, a PEG ratio of 3.07 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its 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. 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 quarter last year, the company posted $2.00 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Applied Materials, Inc. will post 8.31 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Investors of record on Thursday, August 22nd will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.69%. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

Insider Buying and Selling

In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction on Friday, May 31st. The shares were sold at an average price of $213.02, for a total value of $1,597,650.00. Following the completion of the transaction, the senior vice president now owns 78,712 shares of the company’s stock, valued at $16,767,230.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Applied Materials news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the completion of the transaction, the chief financial officer now owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now directly owns 78,712 shares of the company’s stock, valued at approximately $16,767,230.24. The disclosure for this sale can be found here. Insiders sold a total of 89,827 shares of company stock valued at $21,382,560 over the last 90 days. Insiders own 0.29% of the company’s stock.

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.