Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by BBR Partners LLC

BBR Partners LLC lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,462 shares of the manufacturing equipment provider’s stock after selling 129 shares during the period. BBR Partners LLC’s holdings in Applied Materials were worth $3,932,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strategic Wealth Partners Ltd. acquired a new position in shares of Applied Materials in the first quarter worth $550,000. LRI Investments LLC acquired a new position in Applied Materials in the 1st quarter valued at about $79,000. PGGM Investments lifted its holdings in Applied Materials by 18.2% in the 1st quarter. PGGM Investments now owns 140,420 shares of the manufacturing equipment provider’s stock valued at $28,959,000 after purchasing an additional 21,617 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Applied Materials by 205.9% during the 1st quarter. Cetera Investment Advisers now owns 290,561 shares of the manufacturing equipment provider’s stock worth $59,922,000 after purchasing an additional 195,569 shares during the last quarter. Finally, Cetera Advisors LLC grew its holdings in shares of Applied Materials by 166.7% during the first quarter. Cetera Advisors LLC now owns 64,913 shares of the manufacturing equipment provider’s stock worth $13,387,000 after buying an additional 40,573 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Trading Down 1.1 %

Shares of AMAT opened at $171.32 on Thursday. 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 one year low of $144.57 and a one year high of $255.89. The stock has a 50-day moving average price of $188.97 and a 200 day moving average price of $204.99. The company has a market capitalization of $141.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.64 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating 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 return on equity of 39.26% and a net margin of 26.41%. The business’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $2.12 EPS. Sell-side analysts forecast that Applied Materials, Inc. will post 9.5 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMAT. JPMorgan Chase & Co. upped their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Bank of America decreased their price objective on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. UBS Group dropped their target price on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Finally, Needham & Company LLC dropped their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and an average price target 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.