Applied Materials, Inc. (NASDAQ:AMAT) Position Lessened by Modera Wealth Management LLC

Modera Wealth Management LLC reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,993 shares of the manufacturing equipment provider’s stock after selling 186 shares during the quarter. Modera Wealth Management LLC’s holdings in Applied Materials were worth $1,817,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AMAT. Swedbank AB acquired a new stake in Applied Materials in the 1st quarter valued at approximately $773,611,000. Janus Henderson Group PLC increased its position in Applied Materials by 126.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock valued at $464,974,000 after acquiring an additional 1,259,111 shares during the period. Assenagon Asset Management S.A. increased its position in Applied Materials by 262.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after acquiring an additional 1,006,937 shares during the period. Vanguard Group Inc. increased its position in Applied Materials by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider’s stock valued at $15,469,028,000 after acquiring an additional 891,446 shares during the period. Finally, EdgePoint Investment Group Inc. acquired a new position in shares of Applied Materials during the 1st quarter valued at $162,873,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Tuesday, October 8th. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Mizuho lowered their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Susquehanna lowered their price target on Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a research report on Friday, October 11th. Finally, UBS Group lowered their price target on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Price Performance

AMAT opened at $186.52 on Monday. The stock has a market cap of $154.43 billion, a price-to-earnings ratio of 21.44, a PEG ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The stock has a fifty day moving average price of $193.72 and a 200 day moving average price of $208.40.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $1.90 earnings per share. Analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. Applied Materials’s payout ratio is 18.39%.

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.