Applied Materials, Inc. (NASDAQ:AMAT) Stake Lessened by Alpha Omega Wealth Management LLC

Alpha Omega Wealth Management LLC decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 12.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,275 shares of the manufacturing equipment provider’s stock after selling 594 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Applied Materials were worth $864,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Swedbank AB acquired a new stake in shares of Applied Materials during the first quarter valued at approximately $773,611,000. Wellington Management Group LLP raised its stake 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 period. Janus Henderson Group PLC lifted its holdings 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 purchasing an additional 1,259,111 shares in the last quarter. Vanguard Group Inc. boosted its position 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 worth $12,012,171,000 after buying an additional 973,218 shares during the period. Finally, EdgePoint Investment Group Inc. purchased a new position in shares of Applied Materials during the first quarter valued at $162,873,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on AMAT shares. B. Riley lowered their price target 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. Mizuho reduced their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Dbs Bank downgraded Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Finally, Citigroup decreased their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and an average price target of $228.90.

Applied Materials Price Performance

NASDAQ:AMAT opened at $199.59 on Friday. The firm has a market cap of $165.26 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 2.30 and a beta of 1.55. The company’s 50-day moving average price is $194.58 and its two-hundred day moving average price is $209.88. 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 12 month low of $129.21 and a 12 month high of $255.89.

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. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the previous year, the company posted $1.90 EPS. Applied Materials’s revenue was up 5.5% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

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 0.80%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

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.