WESPAC Advisors LLC boosted its stake in shares of Applied Materials Inc. (NASDAQ:AMAT) by 11.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,553 shares of the manufacturing equipment provider’s stock after buying an additional 2,526 shares during the period. WESPAC Advisors LLC’s holdings in Applied Materials were worth $613,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of AMAT. First PREMIER Bank purchased a new position in Applied Materials during the second quarter valued at approximately $120,000. NEXT Financial Group Inc increased its position in Applied Materials by 406.1% in the second quarter. NEXT Financial Group Inc now owns 6,605 shares of the manufacturing equipment provider’s stock valued at $158,000 after buying an additional 5,300 shares during the last quarter. IFP Advisors Inc increased its position in Applied Materials by 52.9% in the first quarter. IFP Advisors Inc now owns 8,741 shares of the manufacturing equipment provider’s stock valued at $185,000 after buying an additional 3,026 shares during the last quarter. Sigma Planning Corp purchased a new position in Applied Materials during the second quarter valued at approximately $204,000. Finally, Atria Investments LLC purchased a new position in Applied Materials during the second quarter valued at approximately $227,000. 82.20% of the stock is currently owned by institutional investors.

Shares of Applied Materials Inc. (NASDAQ:AMAT) traded up 0.59% during mid-day trading on Wednesday, hitting $30.57. The stock had a trading volume of 21,287,637 shares. Applied Materials Inc. has a 1-year low of $14.29 and a 1-year high of $30.78. The stock’s 50-day moving average is $28.72 and its 200 day moving average is $24.06. The firm has a market capitalization of $33.04 billion, a price-to-earnings ratio of 24.11 and a beta of 1.79.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 18th. The manufacturing equipment provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Applied Materials had a net margin of 14.62% and a return on equity of 22.37%. The company earned $2.82 billion during the quarter, compared to analyst estimates of $2.84 billion. During the same period in the previous year, the business earned $0.33 earnings per share. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. Equities research analysts predict that Applied Materials Inc. will post $1.75 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Friday, November 25th will be given a $0.10 dividend. The ex-dividend date is Tuesday, November 22nd. This represents a $0.40 annualized dividend and a yield of 1.31%. Applied Materials’s dividend payout ratio (DPR) is presently 31.25%.

Several research firms have recently commented on AMAT. Goldman Sachs Group Inc. set a $33.00 target price on Applied Materials and gave the company a “buy” rating in a research report on Friday, August 19th. B. Riley reaffirmed a “buy” rating and issued a $27.00 target price on shares of Applied Materials in a research report on Tuesday, July 5th. Vetr downgraded Applied Materials from a “buy” rating to a “hold” rating and set a $25.00 target price on the stock. in a research report on Tuesday, May 31st. RBC Capital Markets reaffirmed a “sector perform” rating and issued a $28.00 target price (up previously from $26.00) on shares of Applied Materials in a research report on Wednesday, August 17th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Applied Materials in a research report on Friday, June 10th. Six analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $30.39.

In other Applied Materials news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $30.00, for a total value of $150,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Ali Salehpour sold 35,505 shares of the business’s stock in a transaction on Friday, June 24th. The stock was sold at an average price of $24.06, for a total transaction of $854,250.30. Following the completion of the sale, the vice president now directly owns 495,691 shares of the company’s stock, valued at $11,926,325.46. The disclosure for this sale can be found here. 0.25% of the stock is currently owned by corporate insiders.

Applied Materials Company Profile

Applied Materials, Inc (Applied) provides manufacturing equipment, services and software to the semiconductor, display, solar photovoltaic (PV) and related industries across the world. The Company operates in four segments: Silicon Systems, Applied Global Services, Display, and Energy and Environmental Solutions.

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