Trust Point Inc. Takes $559,000 Position in Applied Materials, Inc. (NASDAQ:AMAT)

Trust Point Inc. purchased a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 3,450 shares of the manufacturing equipment provider’s stock, valued at approximately $559,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CGC Financial Services LLC bought a new position in Applied Materials during the 2nd quarter valued at approximately $29,000. Global Wealth Management Investment Advisory Inc. raised its position in Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Financial Freedom LLC bought a new position in Applied Materials during the 4th quarter valued at approximately $25,000. BluePath Capital Management LLC bought a new position in Applied Materials during the 3rd quarter valued at approximately $39,000. Finally, RVW Wealth LLC bought a new position in Applied Materials during the 3rd quarter valued at approximately $41,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT stock opened at $203.39 on Friday. The company has a market cap of $169.00 billion, a P/E ratio of 24.40, a price-to-earnings-growth ratio of 3.12 and a beta of 1.59. Applied Materials, Inc. has a 1 year low of $109.00 and a 1 year high of $214.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.71 and a quick ratio of 1.91. The stock’s fifty day moving average price is $194.29 and its 200-day moving average price is $164.12.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The company had revenue of $6.71 billion for the quarter, compared to analysts’ expectations of $6.48 billion. During the same period last year, the firm earned $2.03 EPS. Applied Materials’s revenue for the quarter was down .4% compared to the same quarter last year. On average, equities analysts forecast that Applied Materials, Inc. will post 8.03 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be issued a $0.40 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 15.06%.

Wall Street Analyst Weigh In

AMAT has been the subject of several research reports. Needham & Company LLC increased their target price on Applied Materials from $180.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. UBS Group increased their target price on Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 5th. Barclays increased their target price on Applied Materials from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 16th. Cantor Fitzgerald restated a “neutral” rating and issued a $220.00 price target on shares of Applied Materials in a research note on Monday, March 4th. Finally, B. Riley upped their price target on Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $191.83.

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.