Somerset Trust Co Invests $250,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Somerset Trust Co acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,211 shares of the manufacturing equipment provider’s stock, valued at approximately $250,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AMAT. Norges Bank purchased a new position in shares of Applied Materials in the fourth quarter worth $1,514,814,000. Wellington Management Group LLP grew its holdings in shares of Applied Materials by 3,940.1% in the fourth quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock worth $352,626,000 after purchasing an additional 2,121,912 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Applied Materials by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock worth $12,012,171,000 after purchasing an additional 973,218 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Applied Materials by 40.0% in the fourth quarter. Vontobel Holding Ltd. now owns 2,724,217 shares of the manufacturing equipment provider’s stock worth $441,514,000 after purchasing an additional 778,716 shares during the last quarter. Finally, Capital International Investors lifted its stake in Applied Materials by 3.2% in the fourth quarter. Capital International Investors now owns 22,005,192 shares of the manufacturing equipment provider’s stock worth $3,566,418,000 after acquiring an additional 682,098 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Price Performance

Shares of AMAT stock traded up $4.97 during mid-day trading on Wednesday, reaching $247.83. The stock had a trading volume of 5,256,914 shares, compared to its average volume of 4,859,224. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $249.42. The company has a market cap of $205.20 billion, a P/E ratio of 28.49, a price-to-earnings-growth ratio of 3.18 and a beta of 1.56. The business has a 50-day simple moving average of $213.05 and a 200 day simple moving average of $191.29. The company has a current ratio of 2.80, a quick ratio of 1.97 and a debt-to-equity ratio of 0.30.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly earnings data on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping analysts’ consensus estimates of $1.97 by $0.12. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a return on equity of 41.22% and a net margin of 27.57%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $2.00 EPS. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 8.31 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 12th. Stockholders of record on Thursday, August 22nd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is Thursday, August 22nd. Applied Materials’s dividend payout ratio is currently 18.39%.

Insider Activity

In related news, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the transaction, the senior vice president now directly owns 78,712 shares of the company’s stock, valued at approximately $16,767,230.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Applied Materials news, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the sale, the senior vice president now directly owns 78,712 shares in the company, valued at approximately $16,767,230.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Teri A. Little sold 2,500 shares of Applied Materials stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $221.62, for a total value of $554,050.00. Following the sale, 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. Insiders have sold 30,000 shares of company stock valued at $6,598,500 in the last three months. Corporate insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on AMAT shares. Cantor Fitzgerald reissued an “overweight” rating and set a $260.00 price target on shares of Applied Materials in a research report on Friday, May 17th. UBS Group increased their price target on shares of Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Applied Materials in a report on Thursday, April 11th. They issued a “hold” rating and a $225.00 price target on the stock. Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $165.00 to $225.00 in a report on Wednesday, June 5th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $230.00 price objective on shares of Applied Materials in a research note on Wednesday, May 15th. Six investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $220.04.

Get Our Latest Stock Analysis on AMAT

Applied Materials Company Profile

(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.

Further Reading

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMATFree Report).

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

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.