Harbour Investments Inc. Sells 247 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Harbour Investments Inc. decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,654 shares of the manufacturing equipment provider’s stock after selling 247 shares during the quarter. Harbour Investments Inc.’s holdings in Applied Materials were worth $334,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. M&G Plc bought a new position in Applied Materials in the 1st quarter valued at approximately $2,645,000. Covestor Ltd grew its stake in shares of Applied Materials by 7.8% in the first quarter. Covestor Ltd now owns 854 shares of the manufacturing equipment provider’s stock worth $176,000 after purchasing an additional 62 shares during the last quarter. Davis R M Inc. grew its stake in shares of Applied Materials by 2.3% in the first quarter. Davis R M Inc. now owns 4,814 shares of the manufacturing equipment provider’s stock worth $993,000 after purchasing an additional 107 shares during the last quarter. O Shaughnessy Asset Management LLC increased its holdings in Applied Materials by 20.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 71,659 shares of the manufacturing equipment provider’s stock valued at $14,778,000 after purchasing an additional 11,968 shares during the period. Finally, Texas Capital Bank Wealth Management Services Inc bought a new position in Applied Materials during the 1st quarter worth $224,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 9.2 %

Shares of AMAT stock opened at $168.88 on Friday. Applied Materials, Inc. has a 1 year low of $141.94 and a 1 year high of $255.89. The company’s fifty day simple moving average is $190.88 and its two-hundred day simple moving average is $206.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The stock has a market capitalization of $139.22 billion, a price-to-earnings ratio of 18.98, a PEG ratio of 2.24 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. During the same quarter last year, the company earned $1.90 EPS. The firm’s revenue was up 5.5% compared to the same quarter last year. As a group, analysts anticipate that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Announces Dividend

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 paid 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 0.95%. Applied Materials’s dividend payout ratio is currently 17.98%.

Analyst Ratings Changes

A number of equities research analysts have commented on AMAT shares. Deutsche Bank Aktiengesellschaft decreased their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Susquehanna decreased their price objective 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. Needham & Company LLC lowered their target price 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. Finally, TD Cowen cut their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Company Profile

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.