Daymark Wealth Partners LLC Sells 800 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Daymark Wealth Partners LLC decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,226 shares of the manufacturing equipment provider’s stock after selling 800 shares during the period. Daymark Wealth Partners LLC’s holdings in Applied Materials were worth $5,717,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Swedbank AB bought a new stake in Applied Materials in the first quarter valued at $773,611,000. Wellington Management Group LLP lifted its holdings in Applied Materials by 3,940.1% during the 4th quarter. Wellington Management Group LLP now owns 2,175,766 shares of the manufacturing equipment provider’s stock valued at $352,626,000 after purchasing an additional 2,121,912 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Applied Materials by 126.4% in the first 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 last quarter. Vanguard Group Inc. raised its stake in shares of Applied Materials by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 74,117,176 shares of the manufacturing equipment provider’s stock valued at $12,012,171,000 after acquiring an additional 973,218 shares during the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new position in shares of Applied Materials in the 1st quarter worth approximately $162,873,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $197.31 on Thursday. The company has a fifty day moving average price of $196.34 and a 200 day moving average price of $209.98. The firm has a market cap of $162.66 billion, a PE ratio of 22.68, a PEG ratio of 2.30 and a beta of 1.55. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to the consensus estimate 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 was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.90 EPS. Research analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a yield of 0.81%. Applied Materials’s payout ratio is presently 18.39%.

Analyst Upgrades and Downgrades

AMAT has been the subject of a number of research reports. B. Riley lowered their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, August 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Morgan Stanley lowered their price target on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a report on Tuesday, September 17th. Mizuho reduced their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $231.05.

Applied Materials 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.