Rep. Jonathan L. Jackson Sells Off Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Representative Jonathan L. Jackson (D-Illinois) recently sold shares of Applied Materials, Inc. (NASDAQ:AMAT). In a filing disclosed on December 12th, the Representative disclosed that they had sold between $15,001 and $50,000 in Applied Materials stock on November 27th. The trade occurred in the Representative’s “MORGAN STANLEY TRUST ACCOUNT” account.

Representative Jonathan L. Jackson also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/27/2024.
• Sold $15,001 – $50,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/13/2024.
• Purchased $15,001 – $50,000 in shares of Church & Dwight (NYSE:CHD) on 11/13/2024.
• Sold $1,001 – $15,000 in shares of Regeneron Pharmaceuticals (NASDAQ:REGN) on 11/1/2024.
• Purchased $15,001 – $50,000 in shares of Salesforce (NYSE:CRM) on 10/28/2024.
• Sold $15,001 – $50,000 in shares of ASML (NASDAQ:ASML) on 10/28/2024.
• Purchased $15,001 – $50,000 in shares of General Dynamics (NYSE:GD) on 9/24/2024.
• Sold $15,001 – $50,000 in shares of Merck & Co., Inc. (NYSE:MRK) on 9/24/2024.
• Purchased $15,001 – $50,000 in shares of Aramark (NYSE:ARMK) on 9/19/2024.
• Sold $15,001 – $50,000 in shares of AES (NYSE:AES) on 9/19/2024.

Applied Materials Trading Up 0.2 %

NASDAQ AMAT traded up $0.27 on Friday, hitting $169.35. 7,051,664 shares of the company were exchanged, compared to its average volume of 6,207,007. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. Applied Materials, Inc. has a twelve month low of $148.05 and a twelve month high of $255.89. The company’s 50 day moving average price is $182.86 and its 200-day moving average price is $201.42. The firm has a market capitalization of $139.61 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 1.61 and a beta of 1.52.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $2.12 earnings per share. Analysts predict that Applied Materials, Inc. will post 9.48 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. Applied Materials’s payout ratio is 18.58%.

Analyst Upgrades and Downgrades

AMAT has been the topic of several recent research reports. Citigroup dropped their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a report on Monday, September 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Sanford C. Bernstein decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Finally, Needham & Company LLC decreased their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $220.29.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of AMAT. Summit Securities Group LLC purchased a new stake in shares of Applied Materials in the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in shares of Applied Materials in the 2nd quarter valued at about $28,000. Clean Yield Group purchased a new position in Applied Materials during the third quarter worth approximately $33,000. First PREMIER Bank grew its holdings in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after purchasing an additional 124 shares during the period. Finally, PSI Advisors LLC increased its holdings in Applied Materials by 56.0% in the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

About Representative Jackson

Jonathan Jackson (Democratic Party) is a member of the U.S. House, representing Illinois’ 1st Congressional District. Jackson assumed office on January 3, 2023. Jackson’s current term ends on January 3, 2025. Jackson (Democratic Party) is running for re-election to the U.S. House to represent Illinois’ 1st Congressional District. Jackson declared candidacy for the 2024 election. Jonathan Jackson was born in Chicago, Illinois. Jackson graduated from Whitney Young High School. He earned an M.B.A. from Northwestern University. Jackson’s career experience includes working as an investment analyst and an entrepreneur.

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.