Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,545 shares of the manufacturing equipment provider’s stock after acquiring an additional 351 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Applied Materials were worth $3,829,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Clean Yield Group acquired a new position in Applied Materials in the third quarter valued at $33,000. First PREMIER Bank increased its stake in shares of Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Applied Materials during the 3rd quarter worth about $37,000. DT Investment Partners LLC boosted its position in shares of Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after acquiring an additional 166 shares during the last quarter. Finally, Dunhill Financial LLC grew its holdings in Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on AMAT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Deutsche Bank Aktiengesellschaft cut their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. TD Cowen decreased their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 15th. The Goldman Sachs Group cut their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, Wells Fargo & Company reduced their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $218.24.

Applied Materials Stock Performance

AMAT stock opened at $173.65 on Wednesday. The stock’s 50 day simple moving average is $173.43 and its 200 day simple moving average is $191.74. Applied Materials, Inc. has a 12-month low of $149.84 and a 12-month high of $255.89. The firm has a market cap of $141.30 billion, a P/E ratio of 20.17, a P/E/G ratio of 1.61 and a beta of 1.53. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter last year, the company posted $2.12 earnings per share. Applied Materials’s revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts predict that Applied Materials, Inc. will post 9.48 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is 18.58%.

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.