First National Bank of Mount Dora Trust Investment Services Invests $1.76 Million in Applied Materials, Inc. (NASDAQ:AMAT)

First National Bank of Mount Dora Trust Investment Services bought a new stake in Applied Materials, Inc. (NASDAQ:AMATFree Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 8,554 shares of the manufacturing equipment provider’s stock, valued at approximately $1,764,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital grew its holdings in shares of Applied Materials by 4.9% during the 1st quarter. Wedmont Private Capital now owns 8,824 shares of the manufacturing equipment provider’s stock worth $1,857,000 after purchasing an additional 410 shares during the period. Banque Cantonale Vaudoise grew its stake in Applied Materials by 0.5% during the first quarter. Banque Cantonale Vaudoise now owns 63,758 shares of the manufacturing equipment provider’s stock worth $13,148,000 after buying an additional 330 shares during the period. Fulton Bank N.A. increased its position in shares of Applied Materials by 4.3% in the first quarter. Fulton Bank N.A. now owns 7,698 shares of the manufacturing equipment provider’s stock worth $1,588,000 after acquiring an additional 320 shares in the last quarter. Signal Advisors Wealth LLC purchased a new position in shares of Applied Materials in the 1st quarter valued at $379,000. Finally, Perpetual Ltd lifted its holdings in shares of Applied Materials by 113.6% during the 1st quarter. Perpetual Ltd now owns 15,200 shares of the manufacturing equipment provider’s stock valued at $3,135,000 after acquiring an additional 8,083 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

AMAT has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $240.00 price objective on shares of Applied Materials in a research report on Friday, May 17th. Bank of America lifted their price objective on shares of Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. TD Cowen upped their target price on shares of Applied Materials from $245.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $260.00 price target on shares of Applied Materials in a report on Friday, May 17th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Applied Materials in a report on Thursday, April 11th. They issued a “hold” rating and a $225.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $221.84.

Read Our Latest Report on AMAT

Applied Materials Stock Performance

Shares of NASDAQ:AMAT traded down $3.46 on Friday, reaching $236.53. 4,021,203 shares of the company’s stock were exchanged, compared to its average volume of 5,714,429. The business’s 50-day moving average is $214.36 and its two-hundred day moving average is $192.02. 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 fifty-two week low of $129.21 and a fifty-two week high of $249.42. The firm has a market capitalization of $195.84 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 3.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, beating the consensus estimate of $1.97 by $0.12. The company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.00 earnings per share. As a group, equities research analysts forecast that Applied Materials, Inc. will post 8.31 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Thursday, August 22nd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s payout ratio is 18.39%.

Insider Activity

In other news, CFO Brice Hill sold 20,000 shares of Applied Materials stock in a transaction that occurred on Tuesday, May 28th. The stock was 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 owns 108,356 shares of the company’s stock, valued at $24,091,873.04. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CFO Brice Hill sold 20,000 shares of the stock in a transaction that occurred 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 directly owns 108,356 shares in the company, valued at $24,091,873.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Teri A. Little sold 2,500 shares of Applied Materials stock in a transaction 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 in the company, valued at $16,890,103.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 30,000 shares of company stock valued at $6,598,500. 0.29% of the stock is currently owned by company insiders.

About Applied Materials

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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