Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC grew its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,309 shares of the manufacturing equipment provider’s stock after purchasing an additional 659 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Applied Materials were worth $1,190,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMAT. Van ECK Associates Corp boosted its holdings in Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after acquiring an additional 1,509,439 shares in the last quarter. WoodTrust Financial Corp boosted its stake in Applied Materials by 47.0% in the 3rd quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock worth $13,722,000 after purchasing an additional 21,699 shares in the last quarter. Victory Capital Management Inc. grew its position in Applied Materials by 1.4% during the 3rd quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock worth $230,158,000 after purchasing an additional 15,183 shares during the last quarter. Stiles Financial Services Inc increased its stake in Applied Materials by 252.0% during the 3rd quarter. Stiles Financial Services Inc now owns 4,734 shares of the manufacturing equipment provider’s stock valued at $957,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Applied Materials by 26.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 52,639 shares of the manufacturing equipment provider’s stock valued at $10,636,000 after purchasing an additional 11,165 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

AMAT has been the topic of a number of research analyst reports. Wells Fargo & Company dropped their price objective on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Mizuho cut their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. TD Cowen dropped their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup reduced their price target on shares of 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 analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $222.05.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $174.88 on Friday. The firm has a market cap of $144.17 billion, a PE ratio of 20.31, a P/E/G ratio of 1.65 and a beta of 1.56. Applied Materials, Inc. has a twelve month low of $144.57 and a twelve month high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The business has a 50-day moving average price of $189.83 and a 200 day moving average price of $205.72.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the previous year, the business earned $2.12 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts predict that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.91%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is 18.58%.

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.