Taylor Hoffman Wealth Management increased its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 20.0% in the 3rd quarter, Holdings Channel reports. The firm owned 30,236 shares of the manufacturing equipment provider’s stock after purchasing an additional 5,046 shares during the period. Applied Materials accounts for 1.1% of Taylor Hoffman Wealth Management’s investment portfolio, making the stock its 29th largest holding. Taylor Hoffman Wealth Management’s holdings in Applied Materials were worth $1,509,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC boosted its holdings in shares of Applied Materials by 2,914.1% during the second quarter. Nuveen Asset Management LLC now owns 11,359,951 shares of the manufacturing equipment provider’s stock worth $510,176,000 after purchasing an additional 10,983,055 shares during the period. Invesco Ltd. lifted its stake in Applied Materials by 72.2% in the 2nd quarter. Invesco Ltd. now owns 25,611,081 shares of the manufacturing equipment provider’s stock valued at $1,150,193,000 after buying an additional 10,735,173 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Applied Materials by 34.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 28,351,337 shares of the manufacturing equipment provider’s stock valued at $1,273,259,000 after buying an additional 7,230,052 shares in the last quarter. Generation Investment Management LLP purchased a new position in Applied Materials in the 2nd quarter valued at about $204,994,000. Finally, AQR Capital Management LLC lifted its stake in Applied Materials by 49.4% in the 2nd quarter. AQR Capital Management LLC now owns 8,459,335 shares of the manufacturing equipment provider’s stock valued at $379,909,000 after buying an additional 2,797,005 shares in the last quarter. Hedge funds and other institutional investors own 79.06% of the company’s stock.
A number of research firms have commented on AMAT. Goldman Sachs Group downgraded shares of Applied Materials from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. Stifel Nicolaus set a $57.00 price objective on shares of Applied Materials and gave the company a “buy” rating in a report on Monday, August 26th. KeyCorp cut their price objective on shares of Applied Materials from $56.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, August 16th. BidaskClub upgraded shares of Applied Materials from a “buy” rating to a “strong-buy” rating in a report on Friday, October 4th. Finally, Morgan Stanley increased their price objective on shares of Applied Materials from $40.00 to $43.00 and gave the company an “equal weight” rating in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $53.23.
Shares of NASDAQ AMAT traded up $0.09 during midday trading on Friday, reaching $56.03. 3,313,800 shares of the stock were exchanged, compared to its average volume of 9,191,457. The company has a 50 day simple moving average of $52.53 and a 200 day simple moving average of $46.93. Applied Materials, Inc. has a twelve month low of $28.79 and a twelve month high of $57.29. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.72 and a current ratio of 2.65. The stock has a market capitalization of $51.62 billion, a P/E ratio of 12.59, a PEG ratio of 3.40 and a beta of 1.66.
Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. Applied Materials’s quarterly revenue was down 14.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.20 earnings per share. On average, research analysts expect that Applied Materials, Inc. will post 3 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.21 dividend. The ex-dividend date is Wednesday, November 20th. This represents a $0.84 dividend on an annualized basis and a yield of 1.50%. Applied Materials’s dividend payout ratio is presently 18.88%.
In other news, SVP Steve G. Ghanayem sold 25,727 shares of Applied Materials stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $52.12, for a total value of $1,340,891.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dennis D. Powell sold 25,218 shares of Applied Materials stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $51.44, for a total transaction of $1,297,213.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,945 shares of company stock worth $2,776,105. 0.44% of the stock is currently owned by company insiders.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.
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