Parsons Capital Management Inc. RI Trims Position in Applied Materials, Inc. (NASDAQ:AMAT)

Parsons Capital Management Inc. RI trimmed its stake in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 10.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,604 shares of the manufacturing equipment provider’s stock after selling 517 shares during the period. Parsons Capital Management Inc. RI’s holdings in Applied Materials were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Forum Financial Management LP boosted its holdings in shares of Applied Materials by 0.6% in the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after purchasing an additional 53 shares during the period. Sargent Investment Group LLC lifted its holdings in shares of Applied Materials by 4.0% in the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after buying an additional 55 shares during the period. Biltmore Family Office LLC grew its position in shares of Applied Materials by 5.3% during the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock worth $221,000 after buying an additional 55 shares in the last quarter. waypoint wealth counsel grew its position in shares of Applied Materials by 3.1% during the 3rd quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider’s stock worth $374,000 after buying an additional 56 shares in the last quarter. Finally, BSW Wealth Partners increased its stake in shares of Applied Materials by 1.3% during the third quarter. BSW Wealth Partners now owns 4,259 shares of the manufacturing equipment provider’s stock valued at $860,000 after buying an additional 56 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Down 6.5 %

Shares of AMAT stock opened at $174.57 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials, Inc. has a fifty-two week low of $158.96 and a fifty-two week high of $255.89. The firm has a market capitalization of $142.04 billion, a PE ratio of 20.28, a P/E/G ratio of 1.99 and a beta of 1.53. The stock’s 50-day simple moving average is $174.00 and its 200-day simple moving average is $188.61.

Applied Materials (NASDAQ:AMATGet Free Report) last posted its quarterly 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. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $2.12 EPS. Equities analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms recently weighed in on AMAT. Stifel Nicolaus lowered their price objective on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Susquehanna lifted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Bank of America lowered their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, Mizuho cut their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

Get Our Latest Stock Analysis on AMAT

About Applied Materials

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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