Canandaigua National Bank & Trust Co. Has $797,000 Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Canandaigua National Bank & Trust Co. grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,944 shares of the manufacturing equipment provider’s stock after buying an additional 190 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Applied Materials were worth $797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Farmers Trust Co. lifted its holdings in shares of Applied Materials by 1.8% during the 3rd quarter. Farmers Trust Co. now owns 3,435 shares of the manufacturing equipment provider’s stock valued at $694,000 after buying an additional 62 shares during the last quarter. Czech National Bank lifted its holdings in shares of Applied Materials by 6.5% during the 3rd quarter. Czech National Bank now owns 168,667 shares of the manufacturing equipment provider’s stock valued at $34,079,000 after buying an additional 10,331 shares during the last quarter. Trust Co of the South acquired a new stake in shares of Applied Materials during the 3rd quarter valued at about $242,000. Abacus Planning Group Inc. lifted its holdings in shares of Applied Materials by 15.6% during the 3rd quarter. Abacus Planning Group Inc. now owns 1,077 shares of the manufacturing equipment provider’s stock valued at $218,000 after buying an additional 145 shares during the last quarter. Finally, American National Bank & Trust lifted its holdings in Applied Materials by 1.4% in the 3rd quarter. American National Bank & Trust now owns 33,187 shares of the manufacturing equipment provider’s stock worth $6,705,000 after purchasing an additional 466 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Price Performance

NASDAQ:AMAT traded up $2.38 during trading hours on Friday, reaching $201.97. The company had a trading volume of 4,134,027 shares, compared to its average volume of 6,073,735. The stock has a 50-day moving average of $194.49 and a two-hundred day moving average of $209.89. Applied Materials, Inc. has a one year low of $129.21 and a one year high of $255.89. The firm has a market capitalization of $167.23 billion, a PE ratio of 23.21, a PEG ratio of 2.30 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 (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.90 earnings per share. Analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is presently 18.39%.

Analyst Ratings Changes

Several research firms recently weighed in on AMAT. Stifel Nicolaus reduced their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Friday, August 16th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. B. Riley reduced their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. boosted their target price on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $228.90.

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.