Citizens National Bank Trust Department Grows Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Citizens National Bank Trust Department raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,564 shares of the manufacturing equipment provider’s stock after acquiring an additional 361 shares during the period. Applied Materials accounts for approximately 1.5% of Citizens National Bank Trust Department’s portfolio, making the stock its 22nd largest position. Citizens National Bank Trust Department’s holdings in Applied Materials were worth $6,984,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. KG&L Capital Management LLC boosted its stake in Applied Materials by 235.9% during the 3rd quarter. KG&L Capital Management LLC now owns 10,655 shares of the manufacturing equipment provider’s stock worth $2,153,000 after purchasing an additional 7,483 shares during the period. Forum Financial Management LP increased its holdings in shares of Applied Materials by 0.6% in the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after purchasing an additional 53 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Applied Materials by 22.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 793,349 shares of the manufacturing equipment provider’s stock worth $160,296,000 after purchasing an additional 145,047 shares during the period. BSW Wealth Partners increased its stake in Applied Materials by 1.3% in the 3rd quarter. BSW Wealth Partners now owns 4,259 shares of the manufacturing equipment provider’s stock valued at $860,000 after buying an additional 56 shares during the period. Finally, Nvwm LLC raised its position in Applied Materials by 1.5% during the 3rd quarter. Nvwm LLC now owns 17,344 shares of the manufacturing equipment provider’s stock worth $3,504,000 after buying an additional 257 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 1.0 %

NASDAQ AMAT opened at $183.38 on Monday. Applied Materials, Inc. has a 12 month low of $136.67 and a 12 month high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The company has a market capitalization of $151.18 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.48 and a beta of 1.56. The company’s fifty day moving average price is $191.65 and its two-hundred day moving average price is $207.63.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.90 earnings per share. As a group, research analysts predict that Applied Materials, Inc. will post 8.51 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%. Applied Materials’s dividend payout ratio (DPR) is 17.98%.

Wall Street Analyst Weigh In

AMAT has been the topic of several analyst reports. B. Riley lowered their target price on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Morgan Stanley lowered their target price on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Susquehanna decreased their price objective on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Finally, Stifel Nicolaus cut their target price on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.14.

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.