Marco Investment Management LLC Sells 312 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Marco Investment Management LLC trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,028 shares of the manufacturing equipment provider’s stock after selling 312 shares during the quarter. Marco Investment Management LLC’s holdings in Applied Materials were worth $6,269,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Summit Trail Advisors LLC raised its stake in shares of Applied Materials by 11.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 8,524 shares of the manufacturing equipment provider’s stock valued at $1,722,000 after purchasing an additional 867 shares during the period. SevenBridge Financial Group LLC raised its position in Applied Materials by 11.7% in the 3rd quarter. SevenBridge Financial Group LLC now owns 6,309 shares of the manufacturing equipment provider’s stock valued at $1,190,000 after buying an additional 659 shares during the last quarter. Centaurus Financial Inc. lifted its stake in Applied Materials by 20.3% in the 3rd quarter. Centaurus Financial Inc. now owns 3,815 shares of the manufacturing equipment provider’s stock valued at $771,000 after acquiring an additional 643 shares in the last quarter. Alpha DNA Investment Management LLC boosted its position in Applied Materials by 90.1% during the 3rd quarter. Alpha DNA Investment Management LLC now owns 9,277 shares of the manufacturing equipment provider’s stock worth $1,874,000 after acquiring an additional 4,397 shares during the last quarter. Finally, Larson Financial Group LLC grew its stake in shares of Applied Materials by 26.4% during the 3rd quarter. Larson Financial Group LLC now owns 71,210 shares of the manufacturing equipment provider’s stock worth $14,388,000 after acquiring an additional 14,891 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Down 0.5 %

Shares of AMAT opened at $174.88 on Friday. 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, Inc. has a 12 month low of $144.57 and a 12 month high of $255.89. The firm’s 50 day moving average is $189.83 and its 200-day moving average is $205.72. The stock has a market capitalization of $144.17 billion, a PE ratio of 20.31, a P/E/G ratio of 1.65 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company’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 EPS. Equities research analysts forecast that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s payout ratio is 18.58%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Wells Fargo & Company reduced their target price on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Susquehanna reduced their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. TD Cowen reduced their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Stifel Nicolaus decreased their price target on Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $222.05.

About Applied Materials

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.