Bard Financial Services Inc. Trims Position in Applied Materials, Inc. (NASDAQ:AMAT)

Bard Financial Services Inc. decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 0.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 71,575 shares of the manufacturing equipment provider’s stock after selling 600 shares during the period. Bard Financial Services Inc.’s holdings in Applied Materials were worth $9,434,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in AMAT. LVM Capital Management Ltd. MI increased its position in Applied Materials by 5.1% during the first quarter. LVM Capital Management Ltd. MI now owns 74,535 shares of the manufacturing equipment provider’s stock worth $9,824,000 after purchasing an additional 3,625 shares during the last quarter. Baldwin Brothers LLC MA acquired a new stake in shares of Applied Materials in the first quarter worth $124,000. Guinness Asset Management LTD increased its position in shares of Applied Materials by 2.2% in the first quarter. Guinness Asset Management LTD now owns 187,745 shares of the manufacturing equipment provider’s stock worth $24,745,000 after acquiring an additional 4,126 shares in the last quarter. Coastal Investment Advisors Inc. increased its position in shares of Applied Materials by 4.9% in the first quarter. Coastal Investment Advisors Inc. now owns 6,518 shares of the manufacturing equipment provider’s stock worth $859,000 after acquiring an additional 307 shares in the last quarter. Finally, Capital Investment Advisors LLC grew its holdings in Applied Materials by 1.3% during the 1st quarter. Capital Investment Advisors LLC now owns 7,055 shares of the manufacturing equipment provider’s stock valued at $930,000 after purchasing an additional 92 shares in the last quarter. 77.90% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on AMAT. Citigroup lowered their price target on shares of Applied Materials from $175.00 to $160.00 and set a “buy” rating for the company in a report on Monday, May 23rd. Piper Sandler reduced their price objective on shares of Applied Materials from $153.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, May 20th. StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Monday, May 23rd. Stifel Nicolaus raised their price target on shares of Applied Materials from $190.00 to $197.00 in a research report on Thursday, April 7th. Finally, UBS Group reduced their price target on shares of Applied Materials from $130.00 to $120.00 and set a “neutral” rating on the stock in a research report on Friday, May 20th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $154.81.

Shares of NASDAQ:AMAT traded up $1.15 during trading on Thursday, reaching $95.09. The stock had a trading volume of 87,725 shares, compared to its average volume of 7,406,063. Applied Materials, Inc. has a 52 week low of $87.62 and a 52 week high of $167.06. The firm has a market capitalization of $82.72 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.43 and a beta of 1.43. The company has a quick ratio of 1.54, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $109.38 and a two-hundred day simple moving average of $129.13.

Applied Materials (NASDAQ:AMATGet Rating) last announced its earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.05). Applied Materials had a return on equity of 57.17% and a net margin of 27.20%. The company had revenue of $6.25 billion for the quarter, compared to the consensus estimate of $6.35 billion. During the same period last year, the firm posted $1.63 EPS. The company’s revenue was up 11.9% compared to the same quarter last year. On average, analysts forecast that Applied Materials, Inc. will post 7.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Wednesday, August 24th. Applied Materials’s dividend payout ratio (DPR) is presently 13.87%.

Applied Materials announced that its Board of Directors has approved a stock buyback plan on Friday, March 11th that permits the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Applied Materials Profile (Get Rating)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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