Triad Wealth Partners LLC Buys Shares of 339 Applied Materials, Inc. (NASDAQ:AMAT)

Triad Wealth Partners LLC acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 339 shares of the manufacturing equipment provider’s stock, valued at approximately $80,000.

A number of other hedge funds have also recently made changes to their positions in AMAT. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Applied Materials during the 4th quarter worth $241,000. Cornercap Investment Counsel Inc. boosted its holdings in shares of Applied Materials by 2.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 4,059 shares of the manufacturing equipment provider’s stock worth $658,000 after purchasing an additional 93 shares in the last quarter. Bison Wealth LLC increased its position in shares of Applied Materials by 5.7% during the 4th quarter. Bison Wealth LLC now owns 2,167 shares of the manufacturing equipment provider’s stock valued at $351,000 after purchasing an additional 116 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Applied Materials by 33.1% during the 4th quarter. Mackenzie Financial Corp now owns 272,206 shares of the manufacturing equipment provider’s stock valued at $44,116,000 after purchasing an additional 67,695 shares during the last quarter. Finally, SVB Wealth LLC lifted its position in Applied Materials by 13.1% in the 4th quarter. SVB Wealth LLC now owns 14,201 shares of the manufacturing equipment provider’s stock worth $2,301,000 after buying an additional 1,644 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Applied Materials

In other Applied Materials news, CFO Brice Hill sold 20,000 shares of the company’s stock in a transaction dated 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 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 Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Teri A. Little sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $221.62, for a total value of $554,050.00. Following the transaction, the senior vice president now owns 76,212 shares of the company’s stock, valued at $16,890,103.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brice Hill sold 20,000 shares of the company’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 sale, the chief financial officer now directly owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The disclosure for this sale can be found here. Insiders sold 89,827 shares of company stock valued at $21,382,560 over the last 90 days. Corporate insiders own 0.29% of the company’s stock.

Applied Materials Stock Down 1.9 %

Shares of AMAT stock traded down $3.93 during mid-day trading on Friday, reaching $207.90. 11,644,577 shares of the company’s stock traded hands, compared to its average volume of 6,003,964. The company’s 50-day moving average price is $222.50 and its 200-day moving average price is $209.40. The company has a market cap of $172.14 billion, a P/E ratio of 23.90, a P/E/G ratio of 2.45 and a beta of 1.56. The company has a quick ratio of 1.97, a current ratio of 2.80 and a debt-to-equity ratio of 0.30. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.11. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The business had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the company earned $1.90 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, equities analysts expect that Applied Materials, Inc. will post 8.31 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s payout ratio is 18.39%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on AMAT shares. UBS Group reduced their price target on shares of Applied Materials from $235.00 to $220.00 and set a “neutral” rating on the stock in a research report on Monday, August 5th. Stifel Nicolaus cut their price target on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday. Mizuho raised their price objective on Applied Materials from $225.00 to $245.00 and gave the company a “buy” rating in a research note on Friday, May 17th. TD Cowen increased their target price on Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Citigroup reduced their price target on Applied Materials from $250.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, August 5th. Six research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $225.56.

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.