Focused Wealth Management Inc Has $1.16 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Focused Wealth Management Inc cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,742 shares of the manufacturing equipment provider’s stock after selling 170 shares during the quarter. Focused Wealth Management Inc’s holdings in Applied Materials were worth $1,160,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank grew its stake in shares of Applied Materials by 3.5% in the 3rd quarter. Amalgamated Bank now owns 184,011 shares of the manufacturing equipment provider’s stock valued at $37,179,000 after purchasing an additional 6,229 shares during the period. United Advisor Group LLC grew its holdings in shares of Applied Materials by 47.6% in the 3rd quarter. United Advisor Group LLC now owns 2,501 shares of the manufacturing equipment provider’s stock worth $505,000 after purchasing an additional 807 shares during the last quarter. Stoneridge Investment Partners LLC increased its position in shares of Applied Materials by 5.5% during the 3rd quarter. Stoneridge Investment Partners LLC now owns 8,466 shares of the manufacturing equipment provider’s stock worth $1,711,000 after purchasing an additional 442 shares in the last quarter. FSM Wealth Advisors LLC boosted its position in Applied Materials by 6.1% in the third quarter. FSM Wealth Advisors LLC now owns 1,840 shares of the manufacturing equipment provider’s stock valued at $372,000 after buying an additional 105 shares in the last quarter. Finally, Moloney Securities Asset Management LLC grew its stake in Applied Materials by 11.5% during the third quarter. Moloney Securities Asset Management LLC now owns 6,969 shares of the manufacturing equipment provider’s stock worth $1,408,000 after buying an additional 720 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Morgan Stanley reduced their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Stifel Nicolaus decreased their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research note on Tuesday, October 8th. 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, B. Riley reduced their target price on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

Applied Materials Price Performance

Applied Materials stock opened at $186.48 on Wednesday. The firm has a market capitalization of $153.73 billion, a P/E ratio of 20.95, a PEG ratio of 2.24 and a beta of 1.56. The business has a 50-day moving average of $191.18 and a 200-day moving average of $207.51. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 1 year low of $139.21 and a 1 year high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.90 earnings per share. On average, equities analysts anticipate that Applied Materials, Inc. will post 8.51 EPS for the current year.

Applied Materials Dividend Announcement

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 annualized dividend and a yield of 0.86%. Applied Materials’s dividend payout ratio is presently 17.98%.

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.