M&R Capital Management Inc. Increases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

M&R Capital Management Inc. lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 400.0% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 500 shares of the manufacturing equipment provider’s stock after purchasing an additional 400 shares during the period. M&R Capital Management Inc.’s holdings in Applied Materials were worth $101,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Jacobs & Co. CA lifted its holdings in Applied Materials by 1.8% in the third quarter. Jacobs & Co. CA now owns 65,983 shares of the manufacturing equipment provider’s stock valued at $13,331,000 after acquiring an additional 1,142 shares during the period. Greater Midwest Financial Group LLC lifted its stake in shares of Applied Materials by 10.2% in the second quarter. Greater Midwest Financial Group LLC now owns 16,904 shares of the manufacturing equipment provider’s stock valued at $3,989,000 after purchasing an additional 1,564 shares during the period. Centaurus Financial Inc. boosted its holdings in Applied Materials by 24.9% during the second quarter. Centaurus Financial Inc. now owns 3,172 shares of the manufacturing equipment provider’s stock worth $749,000 after buying an additional 633 shares in the last quarter. Anchor Investment Management LLC grew its position in Applied Materials by 16.7% during the second quarter. Anchor Investment Management LLC now owns 15,405 shares of the manufacturing equipment provider’s stock worth $3,635,000 after buying an additional 2,205 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Applied Materials by 139.0% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,024,083 shares of the manufacturing equipment provider’s stock valued at $241,673,000 after buying an additional 595,594 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $201.15 on Thursday. The company has a market cap of $166.55 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.30 and a beta of 1.55. The firm’s 50 day moving average is $194.64 and its two-hundred day moving average is $209.95. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

Applied Materials (NASDAQ:AMAT) last issued its earnings results 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. 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 for the quarter, compared to analyst estimates of $6.68 billion. During the same period last year, the company posted $1.90 EPS. The business’s quarterly revenue was up 5.5% on a year-over-year basis. Analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.39%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Citigroup decreased their price objective on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company raised their target price on shares of Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, June 17th. B. Riley reduced their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research note on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $231.05.

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.