EverSource Wealth Advisors LLC Has $11.61 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

EverSource Wealth Advisors LLC trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 49,183 shares of the manufacturing equipment provider’s stock after selling 845 shares during the quarter. Applied Materials comprises about 0.7% of EverSource Wealth Advisors LLC’s investment portfolio, making the stock its 28th largest holding. EverSource Wealth Advisors LLC’s holdings in Applied Materials were worth $11,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of AMAT. First National Bank of Mount Dora Trust Investment Services acquired a new stake in shares of Applied Materials in the first quarter valued at approximately $1,764,000. GAMMA Investing LLC raised its holdings in Applied Materials by 89.3% in the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after acquiring an additional 4,239 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Applied Materials by 5.4% during the 1st quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock worth $699,000 after purchasing an additional 172 shares in the last quarter. Sivia Capital Partners LLC raised its stake in Applied Materials by 5.7% in the second quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock valued at $552,000 after purchasing an additional 126 shares in the last quarter. Finally, Calton & Associates Inc. bought a new stake in Applied Materials during the first quarter worth about $243,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Barclays upgraded shares of Applied Materials from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $165.00 to $225.00 in a research report on Wednesday, June 5th. Morgan Stanley lowered their price objective on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 17th. Wells Fargo & Company raised their target price on Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Citigroup lowered their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Mizuho reduced their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $231.05.

Applied Materials Price Performance

Applied Materials stock opened at $192.16 on Friday. The stock’s 50 day moving average is $198.35 and its 200 day moving average is $210.18. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The firm has a market cap of $159.10 billion, a P/E ratio of 22.09, a P/E/G ratio of 2.21 and a beta of 1.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. Applied Materials’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $1.90 earnings per share. As a group, research analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend 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.