Glenmede Trust Co. NA Has $118.35 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Glenmede Trust Co. NA lowered its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% during the third quarter, Holdings Channel reports. The institutional investor owned 585,739 shares of the manufacturing equipment provider’s stock after selling 10,413 shares during the quarter. Glenmede Trust Co. NA’s holdings in Applied Materials were worth $118,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. raised its position in Applied Materials by 8.4% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 15,703 shares of the manufacturing equipment provider’s stock valued at $3,238,000 after purchasing an additional 1,218 shares during the last quarter. Redwood Investment Management LLC acquired a new position in shares of Applied Materials during the first quarter worth approximately $907,000. Creekmur Asset Management LLC grew its stake in shares of Applied Materials by 173.6% during the first quarter. Creekmur Asset Management LLC now owns 301 shares of the manufacturing equipment provider’s stock valued at $62,000 after purchasing an additional 191 shares during the last quarter. Beacon Capital Management LLC increased its holdings in shares of Applied Materials by 94.3% in the first quarter. Beacon Capital Management LLC now owns 583 shares of the manufacturing equipment provider’s stock valued at $120,000 after purchasing an additional 283 shares in the last quarter. Finally, First Western Trust Bank bought a new position in Applied Materials in the 1st quarter worth approximately $218,000. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

AMAT has been the subject of several research reports. 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 research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Susquehanna lowered their price target on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a report on Friday, November 15th. Finally, Dbs Bank cut shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $222.05.

Applied Materials Stock Down 0.8 %

AMAT stock opened at $173.20 on Wednesday. The business has a 50-day moving average of $189.26 and a 200-day moving average of $205.23. Applied Materials, Inc. has a fifty-two week low of $144.57 and a fifty-two week high of $255.89. The stock has a market capitalization of $142.79 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.64 and a beta of 1.56. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the business earned $2.12 EPS. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.92%. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

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.