Raymond James Trust N.A. Trims Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Raymond James Trust N.A. decreased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 113,785 shares of the manufacturing equipment provider’s stock after selling 1,940 shares during the quarter. Raymond James Trust N.A.’s holdings in Applied Materials were worth $9,819,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Chemung Canal Trust Co. raised its position in Applied Materials by 25.0% during the fourth quarter. Chemung Canal Trust Co. now owns 83,302 shares of the manufacturing equipment provider’s stock valued at $7,189,000 after acquiring an additional 16,682 shares in the last quarter. IFM Investors Pty Ltd boosted its position in Applied Materials by 16.9% in the 4th quarter. IFM Investors Pty Ltd now owns 88,571 shares of the manufacturing equipment provider’s stock worth $7,644,000 after purchasing an additional 12,794 shares in the last quarter. Orrstown Financial Services Inc. boosted its position in Applied Materials by 14.7% in the 4th quarter. Orrstown Financial Services Inc. now owns 10,280 shares of the manufacturing equipment provider’s stock worth $888,000 after purchasing an additional 1,316 shares in the last quarter. Coastal Investment Advisors Inc. boosted its position in Applied Materials by 20.6% in the 4th quarter. Coastal Investment Advisors Inc. now owns 4,278 shares of the manufacturing equipment provider’s stock worth $369,000 after purchasing an additional 732 shares in the last quarter. Finally, Sowell Financial Services LLC boosted its position in Applied Materials by 1.6% in the 4th quarter. Sowell Financial Services LLC now owns 29,949 shares of the manufacturing equipment provider’s stock worth $2,585,000 after purchasing an additional 476 shares in the last quarter. 78.80% of the stock is currently owned by hedge funds and other institutional investors.

AMAT has been the topic of several recent research reports. Morgan Stanley upped their price objective on Applied Materials from $77.00 to $95.00 and gave the stock an “equal weight” rating in a research report on Monday, December 14th. Barclays increased their target price on Applied Materials from $70.00 to $74.00 and gave the company an “equal weight” rating in a research report on Friday, November 13th. Credit Suisse Group increased their target price on Applied Materials from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, November 13th. BidaskClub upgraded Applied Materials from a “hold” rating to a “buy” rating in a research report on Tuesday, November 3rd. Finally, KeyCorp increased their target price on Applied Materials from $89.00 to $104.00 and gave the company an “overweight” rating in a research report on Wednesday, January 6th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Applied Materials has a consensus rating of “Buy” and a consensus target price of $87.46.

In other Applied Materials news, SVP Omkaram Nalamasu sold 800 shares of the firm’s stock in a transaction on Monday, December 21st. The stock was sold at an average price of $86.50, for a total value of $69,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by company insiders.

Shares of AMAT traded down $1.96 during midday trading on Wednesday, reaching $98.05. The company had a trading volume of 4,979,714 shares, compared to its average volume of 7,990,019. Applied Materials, Inc. has a 1-year low of $36.64 and a 1-year high of $100.87. The stock has a market cap of $89.65 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 1.95 and a beta of 1.48. The firm has a 50 day simple moving average of $87.78 and a 200-day simple moving average of $69.31. The company has a quick ratio of 2.12, a current ratio of 3.00 and a debt-to-equity ratio of 0.52.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Tuesday, November 17th. The manufacturing equipment provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.08. Applied Materials had a return on equity of 40.65% and a net margin of 21.04%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.60 billion. During the same period last year, the company earned $0.80 EPS. The company’s revenue for the quarter was up 24.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 4.96 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 18th. Shareholders of record on Thursday, February 25th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Wednesday, February 24th. Applied Materials’s dividend payout ratio (DPR) is presently 21.10%.

About Applied Materials

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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