Rede Wealth LLC Raises Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Rede Wealth LLC increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,265 shares of the manufacturing equipment provider’s stock after purchasing an additional 100 shares during the quarter. Applied Materials accounts for about 0.5% of Rede Wealth LLC’s holdings, making the stock its 22nd largest holding. Rede Wealth LLC’s holdings in Applied Materials were worth $1,182,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of AMAT. Crews Bank & Trust acquired a new position in shares of Applied Materials during the fourth quarter valued at approximately $28,000. YANKCOM Partnership acquired a new position in shares of Applied Materials during the fourth quarter valued at approximately $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Applied Materials during the third quarter valued at approximately $37,000. DT Investment Partners LLC raised its holdings in shares of Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after acquiring an additional 166 shares during the last quarter. Finally, City Holding Co. acquired a new position in shares of Applied Materials during the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Down 1.5 %

NASDAQ:AMAT opened at $180.00 on Friday. The firm has a market cap of $146.29 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. The stock has a fifty day moving average price of $175.19 and a 200 day moving average price of $185.56. Applied Materials, Inc. has a 12-month low of $158.96 and a 12-month high of $255.89. 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 (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same period last year, the firm earned $2.12 earnings per share. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.89%. Applied Materials’s dividend payout ratio is presently 18.58%.

Analysts Set New Price Targets

AMAT has been the subject of a number of research analyst reports. Needham & Company LLC reduced their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. The Goldman Sachs Group cut their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Susquehanna increased their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. One equities 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $218.71.

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.