Larson Financial Group LLC Purchases 14,891 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Larson Financial Group LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 26.4% during the third quarter, HoldingsChannel reports. The firm owned 71,210 shares of the manufacturing equipment provider’s stock after buying an additional 14,891 shares during the period. Applied Materials comprises approximately 0.8% of Larson Financial Group LLC’s portfolio, making the stock its 25th largest holding. Larson Financial Group LLC’s holdings in Applied Materials were worth $14,388,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of AMAT. Van ECK Associates Corp grew its holdings in Applied Materials by 29.8% during the 3rd 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 during the period. WoodTrust Financial Corp boosted its position in shares of Applied Materials by 47.0% during the 3rd quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock valued at $13,722,000 after purchasing an additional 21,699 shares in the last quarter. Victory Capital Management Inc. grew its stake in Applied Materials by 1.4% during the third 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 period. Stiles Financial Services Inc increased its holdings in Applied Materials by 252.0% in the third quarter. Stiles Financial Services Inc now owns 4,734 shares of the manufacturing equipment provider’s stock worth $957,000 after purchasing an additional 3,389 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its stake in Applied Materials by 26.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 52,639 shares of the manufacturing equipment provider’s stock valued at $10,636,000 after buying an additional 11,165 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Down 0.5 %

AMAT opened at $174.88 on Friday. Applied Materials, Inc. has a fifty-two week low of $144.57 and a fifty-two week high of $255.89. The firm has a market capitalization of $144.17 billion, a P/E ratio of 20.31, a PEG ratio of 1.65 and a beta of 1.56. The company’s 50-day moving average is $189.83 and its 200 day moving average is $205.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 EPS. Research analysts expect that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AMAT. UBS Group lowered their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Bank of America dropped their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research note on Friday, November 15th. Citigroup dropped their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, TD Cowen cut their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $222.05.

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.