Glass Wealth Management Co LLC Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Glass Wealth Management Co LLC raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,445 shares of the manufacturing equipment provider’s stock after purchasing an additional 1,500 shares during the quarter. Applied Materials accounts for about 1.6% of Glass Wealth Management Co LLC’s portfolio, making the stock its 24th largest position. Glass Wealth Management Co LLC’s holdings in Applied Materials were worth $2,919,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Summit Securities Group LLC bought a new position in shares of Applied Materials in the 2nd quarter valued at about $26,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials during the second quarter valued at approximately $28,000. Clean Yield Group bought a new stake in shares of Applied Materials in the 3rd quarter valued at approximately $33,000. First PREMIER Bank boosted its holdings in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. Finally, PSI Advisors LLC raised its holdings in Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Down 9.2 %

Applied Materials stock opened at $168.88 on Monday. Applied Materials, Inc. has a twelve month low of $141.94 and a twelve month high of $255.89. The business has a fifty day moving average of $190.88 and a two-hundred day moving average of $206.87. The firm has a market cap of $139.23 billion, a P/E ratio of 19.61, a P/E/G ratio of 2.07 and a beta of 1.56. 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 quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.71% and a net margin of 26.41%. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the prior year, the business posted $2.12 EPS. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. On average, analysts forecast that Applied Materials, Inc. will post 9.52 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is currently 18.58%.

Analysts Set New Price Targets

Several research firms have commented on AMAT. Susquehanna dropped their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Stifel Nicolaus dropped their price target on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Dbs Bank lowered shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Evercore ISI dropped their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday. Finally, TD Cowen decreased their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday. Eight equities 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.com, the stock has an average rating of “Moderate Buy” and an average target price of $219.81.

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.