Pennsylvania Trust Co boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,187 shares of the manufacturing equipment provider’s stock after purchasing an additional 276 shares during the period. Pennsylvania Trust Co’s holdings in Applied Materials were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in the stock. Greenleaf Trust lifted its stake in Applied Materials by 8.5% during the second quarter. Greenleaf Trust now owns 15,309 shares of the manufacturing equipment provider’s stock valued at $688,000 after purchasing an additional 1,201 shares during the last quarter. Coastal Investment Advisors Inc. raised its holdings in shares of Applied Materials by 82.9% during the second quarter. Coastal Investment Advisors Inc. now owns 2,304 shares of the manufacturing equipment provider’s stock valued at $103,000 after acquiring an additional 1,044 shares during the period. Hartford Financial Management Inc. raised its holdings in shares of Applied Materials by 0.6% during the second quarter. Hartford Financial Management Inc. now owns 42,875 shares of the manufacturing equipment provider’s stock valued at $1,926,000 after acquiring an additional 248 shares during the period. Nvwm LLC raised its holdings in shares of Applied Materials by 28.0% during the second quarter. Nvwm LLC now owns 17,597 shares of the manufacturing equipment provider’s stock valued at $790,000 after acquiring an additional 3,844 shares during the period. Finally, Holocene Advisors LP acquired a new stake in shares of Applied Materials during the second quarter valued at approximately $19,389,000. Hedge funds and other institutional investors own 78.70% of the company’s stock.
Applied Materials stock opened at $51.75 on Friday. The firm has a market cap of $47.80 billion, a PE ratio of 11.63, a P/E/G ratio of 3.39 and a beta of 1.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. The firm’s 50 day moving average price is $49.66 and its two-hundred day moving average price is $45.24. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $52.62.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. During the same quarter in the prior year, the business posted $1.20 EPS. Applied Materials’s quarterly revenue was down 14.4% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 3 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.84 annualized dividend and a dividend yield of 1.62%. Applied Materials’s dividend payout ratio (DPR) is 18.88%.
A number of research firms have recently issued reports on AMAT. Wells Fargo & Co restated a “positive” rating and set a $58.00 price target (up previously from $52.00) on shares of Applied Materials in a report on Wednesday, September 18th. Cowen restated an “outperform” rating and set a $55.00 price target (up previously from $53.00) on shares of Applied Materials in a report on Friday, August 16th. Susquehanna Bancshares set a $60.00 price target on shares of Applied Materials and gave the company a “buy” rating in a report on Friday, August 16th. KeyCorp cut their price target on shares of Applied Materials from $56.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, August 16th. Finally, B. Riley set a $54.00 price target on shares of Applied Materials and gave the company a “buy” rating in a report on Friday, August 16th. Ten research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $52.10.
In related news, Director Dennis D. Powell sold 25,218 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $51.44, for a total transaction of $1,297,213.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Stephen R. Forrest sold 3,000 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total transaction of $138,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,945 shares of company stock worth $2,776,105. 0.44% of the stock is currently owned by company insiders.
About Applied Materials
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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