Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Increased by Concord Wealth Partners

Concord Wealth Partners boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 10.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,414 shares of the manufacturing equipment provider’s stock after buying an additional 1,144 shares during the quarter. Concord Wealth Partners’ holdings in Applied Materials were worth $2,019,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in shares of Applied Materials in the 4th quarter worth approximately $28,000. Clean Yield Group acquired a new stake in Applied Materials during the 3rd quarter worth about $33,000. First PREMIER Bank lifted its stake in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new position in shares of Applied Materials in the third quarter worth about $37,000. Finally, DT Investment Partners LLC increased its position in shares of Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after acquiring an additional 166 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AMAT shares. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a research report on Friday, January 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. Bank of America lowered their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Mizuho decreased their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Sanford C. Bernstein lowered their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $218.71.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $180.35 on Friday. The business’s 50 day moving average is $174.37 and its two-hundred day moving average is $187.51. The company has a market cap of $146.57 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.79 and a beta of 1.53. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12 month low of $158.96 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter in the previous year, the firm posted $2.12 EPS. The business’s revenue was up 4.8% compared to the same quarter last year. On average, equities analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is presently 18.58%.

About Applied Materials

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.