Dakota Wealth Management Buys 1,864 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Dakota Wealth Management boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 10.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,832 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,864 shares during the period. Dakota Wealth Management’s holdings in Applied Materials were worth $4,007,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. DT Investment Partners LLC increased its holdings in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after purchasing an additional 166 shares during the period. Global Trust Asset Management LLC boosted its holdings in Applied Materials by 1.7% in the third quarter. Global Trust Asset Management LLC now owns 11,927 shares of the manufacturing equipment provider’s stock worth $2,410,000 after acquiring an additional 202 shares in the last quarter. Assenagon Asset Management S.A. grew its position in Applied Materials by 262.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock valued at $280,951,000 after purchasing an additional 1,006,937 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Applied Materials by 1.3% during the third quarter. IFM Investors Pty Ltd now owns 174,332 shares of the manufacturing equipment provider’s stock valued at $35,224,000 after buying an additional 2,250 shares during the last quarter. Finally, Bogart Wealth LLC lifted its position in Applied Materials by 1.5% in the 3rd quarter. Bogart Wealth LLC now owns 48,430 shares of the manufacturing equipment provider’s stock valued at $9,785,000 after acquiring an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 1.5 %

Shares of NASDAQ AMAT opened at $186.52 on Friday. The stock has a market cap of $154.43 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. 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, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The business has a 50-day moving average price of $194.14 and a 200 day moving average price of $208.58.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate 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 firm’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $1.90 EPS. Equities research analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.86%. 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 brokerages have weighed in on AMAT. JPMorgan Chase & Co. boosted their target price on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research note on Friday, August 16th. Citigroup reduced their price objective on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Mizuho cut their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price target on shares of Applied Materials in a research note on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and an average price target of $229.14.

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.