Colonial River Wealth Management LLC Invests $695,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Colonial River Wealth Management LLC purchased a new position in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,288 shares of the manufacturing equipment provider’s stock, valued at approximately $695,000.

Several other large investors also recently modified their holdings of AMAT. State Street Corp boosted its holdings in Applied Materials by 0.8% in the 1st quarter. State Street Corp now owns 38,434,684 shares of the manufacturing equipment provider’s stock worth $4,720,928,000 after buying an additional 301,010 shares during the period. Northern Trust Corp boosted its holdings in Applied Materials by 4.8% in the 3rd quarter. Northern Trust Corp now owns 10,032,850 shares of the manufacturing equipment provider’s stock worth $1,389,048,000 after buying an additional 456,865 shares during the period. Morgan Stanley boosted its holdings in Applied Materials by 6.0% in the 3rd quarter. Morgan Stanley now owns 9,995,287 shares of the manufacturing equipment provider’s stock worth $1,383,848,000 after buying an additional 570,080 shares during the period. Nuveen Asset Management LLC boosted its holdings in Applied Materials by 25.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 9,609,330 shares of the manufacturing equipment provider’s stock worth $1,388,933,000 after buying an additional 1,925,722 shares during the period. Finally, Norges Bank bought a new position in Applied Materials in the 4th quarter worth approximately $930,505,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 1.2 %

Shares of AMAT traded down $2.58 during trading hours on Tuesday, reaching $206.11. 4,306,133 shares of the company traded hands, compared to its average volume of 6,482,146. The company’s fifty day moving average price is $192.85 and its two-hundred day moving average price is $163.33. The company has a market capitalization of $171.26 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 3.12 and a beta of 1.59. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. Applied Materials, Inc. has a 12 month low of $109.00 and a 12 month high of $214.91.

Applied Materials (NASDAQ:AMATGet Free Report) last announced its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. The firm 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 company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. Equities research analysts predict that Applied Materials, Inc. will post 8.03 earnings per share 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. Stockholders of record on Thursday, May 23rd will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio is currently 15.06%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on AMAT shares. Barclays raised their price objective on shares of Applied Materials from $120.00 to $140.00 and gave the stock an “underweight” rating in a report on Tuesday, January 16th. Morgan Stanley raised their price target on shares of Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Susquehanna raised their price target on shares of Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Citigroup raised their price target on shares of Applied Materials from $170.00 to $211.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, TD Cowen raised their price target on shares of Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, February 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.83.

View Our Latest Analysis on AMAT

Applied Materials Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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