Orca Wealth Management LLC Invests $288,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Orca Wealth Management LLC bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,771 shares of the manufacturing equipment provider’s stock, valued at approximately $288,000.

Several other institutional investors also recently bought and sold shares of AMAT. Clean Yield Group purchased a new stake in Applied Materials during the third quarter worth about $33,000. First PREMIER Bank lifted 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 worth $33,000 after purchasing an additional 124 shares during the period. 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 raised its holdings in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 166 shares during the period. Finally, City Holding Co. purchased a new stake in shares of Applied Materials during the fourth quarter worth about $39,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Down 1.0 %

Shares of AMAT opened at $172.85 on Wednesday. The stock’s 50-day moving average price is $174.07 and its 200-day moving average price is $188.14. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week high of $255.89. The company has a market capitalization of $140.64 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 1.99 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.12 earnings per share. On average, sell-side analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.93%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is 18.58%.

Analyst Ratings Changes

Several research analysts have recently commented on AMAT shares. Wells Fargo & Company decreased their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Morgan Stanley restated an “underweight” rating and set a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Mizuho decreased their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Needham & Company LLC decreased their price objective on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Evercore ISI cut their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.71.

Applied Materials Company 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.