Diversify Wealth Management LLC Purchases 1,282 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Diversify Wealth Management LLC raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 50.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,813 shares of the manufacturing equipment provider’s stock after acquiring an additional 1,282 shares during the period. Diversify Wealth Management LLC’s holdings in Applied Materials were worth $770,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. JT Stratford LLC boosted its position in Applied Materials by 0.4% during the 1st quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock valued at $2,246,000 after acquiring an additional 48 shares in the last quarter. WASHINGTON TRUST Co boosted its position in Applied Materials by 3.3% during the 2nd quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock valued at $367,000 after acquiring an additional 49 shares in the last quarter. Optimum Investment Advisors boosted its position in Applied Materials by 1.3% during the 2nd quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock valued at $948,000 after acquiring an additional 50 shares in the last quarter. SlateStone Wealth LLC boosted its position in shares of Applied Materials by 4.7% in the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock worth $261,000 after purchasing an additional 50 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of Applied Materials by 0.9% in the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 6,041 shares of the manufacturing equipment provider’s stock worth $1,246,000 after purchasing an additional 54 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Price Performance

Shares of AMAT opened at $185.30 on Thursday. The firm has a market cap of $153.42 billion, a PE ratio of 21.30, a P/E/G ratio of 2.66 and a beta of 1.54. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The firm has a fifty day simple moving average of $192.41 and a two-hundred day simple moving average of $207.92. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89.

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

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of analyst reports. Wells Fargo & Company dropped their price target on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research report on Tuesday, October 8th. Citigroup dropped their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. B. Riley dropped their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, Morgan Stanley dropped their price target on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $229.14.

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.