Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Palmer Knight Co

Palmer Knight Co decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,600 shares of the manufacturing equipment provider’s stock after selling 131 shares during the period. Applied Materials comprises 3.7% of Palmer Knight Co’s portfolio, making the stock its 15th largest holding. Palmer Knight Co’s holdings in Applied Materials were worth $6,094,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Oak Thistle LLC acquired a new position in Applied Materials during the third quarter worth approximately $405,000. U.S. Capital Wealth Advisors LLC increased its position in Applied Materials by 6.7% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 3,618 shares of the manufacturing equipment provider’s stock worth $501,000 after purchasing an additional 226 shares during the last quarter. Valeo Financial Advisors LLC increased its position in shares of Applied Materials by 1.3% in the third quarter. Valeo Financial Advisors LLC now owns 7,506 shares of the manufacturing equipment provider’s stock worth $1,039,000 after acquiring an additional 96 shares in the last quarter. Golden State Equity Partners acquired a new stake in shares of Applied Materials in the third quarter worth $738,000. Finally, Atlantic Union Bankshares Corp acquired a new stake in shares of Applied Materials in the third quarter worth $813,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 0.3 %

Shares of AMAT traded up $0.70 during midday trading on Monday, hitting $204.08. 1,079,124 shares of the company’s stock traded hands, compared to its average volume of 6,059,896. Applied Materials, Inc. has a 1 year low of $111.20 and a 1 year high of $214.91. The firm’s fifty day moving average is $203.42 and its 200-day moving average is $171.98. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $169.57 billion, a price-to-earnings ratio of 23.93, a price-to-earnings-growth ratio of 3.04 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The business had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.48 billion. During the same quarter last year, the business posted $2.03 EPS. The company’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 8.04 earnings per share for the current year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.40 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.78%. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s payout ratio is 15.06%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on AMAT. The Goldman Sachs Group upped their target price on shares of Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Cantor Fitzgerald raised shares of Applied Materials from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $220.00 to $260.00 in a report on Monday, April 8th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Applied Materials in a report on Thursday, April 11th. They issued a “hold” rating and a $225.00 price objective on the stock. Susquehanna raised their price objective on shares of Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Finally, Citigroup raised their target price on shares of Applied Materials from $170.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $201.50.

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.