M&T Bank Corp Sells 20,746 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

M&T Bank Corp lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 313,488 shares of the manufacturing equipment provider’s stock after selling 20,746 shares during the quarter. M&T Bank Corp’s holdings in Applied Materials were worth $63,340,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in AMAT. Unigestion Holding SA increased its stake in Applied Materials by 67.7% during the 3rd quarter. Unigestion Holding SA now owns 6,951 shares of the manufacturing equipment provider’s stock worth $1,404,000 after purchasing an additional 2,806 shares in the last quarter. Soltis Investment Advisors LLC boosted its holdings in shares of Applied Materials by 763.7% in the third quarter. Soltis Investment Advisors LLC now owns 38,072 shares of the manufacturing equipment provider’s stock valued at $7,693,000 after buying an additional 33,664 shares during the period. Rehmann Capital Advisory Group increased its position in shares of Applied Materials by 6.6% during the third quarter. Rehmann Capital Advisory Group now owns 5,913 shares of the manufacturing equipment provider’s stock worth $1,196,000 after acquiring an additional 366 shares in the last quarter. Fortem Financial Group LLC raised its holdings in shares of Applied Materials by 17.1% during the third quarter. Fortem Financial Group LLC now owns 10,170 shares of the manufacturing equipment provider’s stock worth $2,055,000 after acquiring an additional 1,487 shares during the period. Finally, Arete Wealth Advisors LLC lifted its position in Applied Materials by 9.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 7,165 shares of the manufacturing equipment provider’s stock valued at $1,431,000 after acquiring an additional 638 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 0.7 %

Shares of Applied Materials stock opened at $171.86 on Tuesday. Applied Materials, Inc. has a 1 year low of $148.05 and a 1 year high of $255.89. The company has a market capitalization of $141.68 billion, a price-to-earnings ratio of 19.96, a P/E/G ratio of 1.63 and a beta of 1.52. The business has a fifty day simple moving average of $185.31 and a two-hundred day simple moving average of $202.74. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.12 EPS. Research analysts forecast that Applied Materials, Inc. will post 9.45 EPS for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.93%. Applied Materials’s payout ratio is currently 18.58%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on AMAT shares. Citigroup lowered their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. B. Riley reduced their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. TD Cowen cut their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Susquehanna reduced their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $220.29.

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.