Eliot Finkel Investment Counsel LLC Has $4.70 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Eliot Finkel Investment Counsel LLC decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,262 shares of the manufacturing equipment provider’s stock after selling 1,205 shares during the quarter. Applied Materials makes up approximately 2.9% of Eliot Finkel Investment Counsel LLC’s holdings, making the stock its 19th largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Applied Materials were worth $4,700,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of AMAT. GAMMA Investing LLC increased its position in Applied Materials by 89.3% in the second quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock worth $2,121,000 after purchasing an additional 4,239 shares during the period. Sivia Capital Partners LLC lifted its holdings in Applied Materials by 5.7% in the second quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock valued at $552,000 after buying an additional 126 shares during the period. International Assets Investment Management LLC boosted its stake in Applied Materials by 5.4% in the first quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock valued at $699,000 after acquiring an additional 172 shares during the last quarter. Calton & Associates Inc. acquired a new stake in Applied Materials during the 1st quarter worth $243,000. Finally, Avantax Advisory Services Inc. raised its position in shares of Applied Materials by 17.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 23,949 shares of the manufacturing equipment provider’s stock valued at $4,939,000 after acquiring an additional 3,529 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on AMAT. JPMorgan Chase & Co. lifted 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Tuesday, October 8th. Wells Fargo & Company reduced their price objective on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, B. Riley decreased their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

Applied Materials Stock Performance

Shares of AMAT stock opened at $186.36 on Friday. The firm has a market cap of $154.30 billion, a PE ratio of 21.42, a P/E/G ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The company’s fifty day simple moving average is $195.61 and its 200-day simple moving average is $209.21. 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 posted its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. Equities research analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is presently 18.39%.

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.