Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Trust Co. of Oklahoma

Trust Co. of Oklahoma trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 3.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,420 shares of the manufacturing equipment provider’s stock after selling 412 shares during the period. Trust Co. of Oklahoma’s holdings in Applied Materials were worth $2,307,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. JT Stratford LLC lifted its holdings in shares of Applied Materials by 0.4% during the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock worth $2,246,000 after acquiring an additional 48 shares during the period. Financial Management Professionals Inc. lifted its holdings in shares of Applied Materials by 5.6% during the 1st quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock worth $191,000 after acquiring an additional 49 shares during the period. WASHINGTON TRUST Co lifted its holdings in shares of Applied Materials by 3.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock worth $367,000 after acquiring an additional 49 shares during the period. Optimum Investment Advisors lifted its holdings in shares of Applied Materials by 1.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock worth $948,000 after acquiring an additional 50 shares during the period. Finally, SlateStone Wealth LLC lifted its holdings in shares of Applied Materials by 4.7% during the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock worth $261,000 after acquiring an additional 50 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

AMAT traded down $22.04 during trading hours on Tuesday, hitting $191.85. 11,199,760 shares of the stock were exchanged, compared to its average volume of 6,032,506. The stock has a 50-day simple moving average of $195.58 and a 200-day simple moving average of $209.83. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The stock has a market cap of $158.85 billion, a price-to-earnings ratio of 22.90, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. During the same period last year, the business posted $1.90 earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Analysts anticipate that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho cut their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Susquehanna dropped their target price on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday. StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. JPMorgan Chase & Co. increased their target price on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Finally, Morgan Stanley dropped their target price on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $229.14.

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.