Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 35.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 551 shares of the manufacturing equipment provider’s stock after selling 300 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Applied Materials were worth $89,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Atlantic Edge Private Wealth Management LLC purchased a new position in Applied Materials in the fourth quarter worth approximately $27,000. DSM Capital Partners LLC acquired a new stake in shares of Applied Materials during the 4th quarter worth about $37,000. Global Wealth Management Investment Advisory Inc. lifted its position in Applied Materials by 76.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 100 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Applied Materials in the 3rd quarter valued at approximately $39,000. Finally, First United Bank & Trust purchased a new stake in Applied Materials in the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT stock traded up $1.88 on Monday, hitting $205.26. The company’s stock had a trading volume of 2,786,965 shares, compared to its average volume of 6,081,282. Applied Materials, Inc. has a 1 year low of $111.20 and a 1 year high of $214.91. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $170.55 billion, a price-to-earnings ratio of 24.15, a price-to-earnings-growth ratio of 3.04 and a beta of 1.59. The firm has a 50 day moving average of $203.53 and a two-hundred day moving average of $172.40.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. The business had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.48 billion. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The business’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $2.03 earnings per share. Equities analysts predict that Applied Materials, Inc. will post 8.04 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be issued a $0.40 dividend. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a yield of 0.78%. Applied Materials’s dividend payout ratio is 15.06%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AMAT shares. Evercore ISI began coverage on Applied Materials in a research note on Tuesday, April 16th. They set an “outperform” rating and a $260.00 target price on the stock. Mizuho raised their price objective on shares of Applied Materials from $185.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 16th. The Goldman Sachs Group upped their target price on shares of Applied Materials from $156.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Barclays raised their price target on shares of Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Tuesday, January 16th. Finally, B. Riley increased their price objective on Applied Materials from $175.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and an average target price of $201.50.

Applied Materials Profile

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.