Hartford Financial Management Inc. Has $5.63 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Hartford Financial Management Inc. lowered its position in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,751 shares of the manufacturing equipment provider’s stock after selling 497 shares during the quarter. Applied Materials accounts for 1.3% of Hartford Financial Management Inc.’s holdings, making the stock its 21st biggest position. Hartford Financial Management Inc.’s holdings in Applied Materials were worth $5,632,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new position in Applied Materials in the 4th quarter valued at about $930,505,000. Cowa LLC acquired a new position in shares of Applied Materials in the 1st quarter worth approximately $76,000. Moneta Group Investment Advisors LLC lifted its position in shares of Applied Materials by 79,147.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,726,422 shares of the manufacturing equipment provider’s stock valued at $557,639,000 after acquiring an additional 5,719,196 shares during the period. Nuveen Asset Management LLC lifted its position in shares of Applied Materials by 25.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 9,609,330 shares of the manufacturing equipment provider’s stock valued at $1,388,933,000 after acquiring an additional 1,925,722 shares during the period. Finally, Barclays PLC lifted its position in shares of Applied Materials by 63.9% during the 2nd quarter. Barclays PLC now owns 3,892,930 shares of the manufacturing equipment provider’s stock valued at $562,685,000 after acquiring an additional 1,517,116 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on AMAT shares. B. Riley increased their price target on shares of Applied Materials from $175.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Citigroup raised their target price on shares of Applied Materials from $170.00 to $211.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Susquehanna increased their price target on shares of Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. The Goldman Sachs Group increased their price target on shares of Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Morgan Stanley raised their target price on shares of Applied Materials from $142.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $197.33.

View Our Latest Research Report on AMAT

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded up $3.73 during midday trading on Thursday, hitting $212.98. 4,290,065 shares of the company’s stock traded hands, compared to its average volume of 6,262,286. Applied Materials, Inc. has a 1 year low of $109.00 and a 1 year high of $214.91. The stock has a market capitalization of $176.96 billion, a price-to-earnings ratio of 25.06, a price-to-earnings-growth ratio of 3.16 and a beta of 1.59. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71. The firm has a fifty day moving average of $199.24 and a 200 day moving average of $166.91.

Applied Materials (NASDAQ:AMATGet Free Report) last released its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.23. The company had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.48 billion. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.03 EPS. On average, analysts forecast that Applied Materials, Inc. will post 8.03 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be given a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 0.75%. Applied Materials’s dividend payout ratio (DPR) is currently 18.82%.

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.

See Also

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

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