Rep. Marjorie Taylor Greene Acquires Applied Materials, Inc. (NASDAQ:AMAT) Shares

Representative Marjorie Taylor Greene (R-Georgia) recently bought shares of Applied Materials, Inc. (NASDAQ:AMAT). In a filing disclosed on November 21st, the Representative disclosed that they had bought between $1,001 and $15,000 in Applied Materials stock on November 20th.

Representative Marjorie Taylor Greene also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Nestlé (OTCMKTS:NSRGY) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Southern Copper (NYSE:SCCO) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of AbbVie (NYSE:ABBV) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Occidental Petroleum (NYSE:OXY) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Adobe (NASDAQ:ADBE) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of QUALCOMM (NASDAQ:QCOM) on 11/20/2024.
• Purchased $1,001 – $15,000 in shares of Berkshire Hathaway (NYSE:BRK.B) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of FedEx (NYSE:FDX) on 11/7/2024.
• Purchased $1,001 – $15,000 in shares of Dell Technologies (NYSE:DELL) on 11/7/2024.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $174.88 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89. The company has a 50-day simple moving average of $189.83 and a 200-day simple moving average of $205.72. The stock has a market capitalization of $144.17 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.65 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $2.12 EPS. On average, analysts predict that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s dividend payout ratio is presently 18.58%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AMAT. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. Wells Fargo & Company dropped their price target on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Mizuho reduced their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. B. Riley cut their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Finally, Bank of America decreased their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Eight research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.05.

Institutional Trading of Applied Materials

Large investors have recently modified their holdings of the business. Summit Securities Group LLC purchased a new position in Applied Materials in the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD acquired a new position in shares of Applied Materials in the second quarter valued at approximately $28,000. PSI Advisors LLC raised its position in shares of Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. Clean Yield Group purchased a new position in shares of Applied Materials during the third quarter valued at approximately $33,000. Finally, First PREMIER Bank grew its stake in Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

About Representative Greene

Marjorie Taylor Greene (Republican Party) is a member of the U.S. House, representing Georgia’s 14th Congressional District. She assumed office on January 3, 2021. Her current term ends on January 3, 2025. Greene (Republican Party) is running for re-election to the U.S. House to represent Georgia’s 14th Congressional District. She declared candidacy for the 2024 election. Marjorie Taylor Greene earned a bachelor’s degree in business administration from the University of Georgia. Greene’s career experience includes co-owning construction company Taylor Commercial and founding and owning a CrossFit gym.

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.