Fiduciary Alliance LLC Purchases 600 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Fiduciary Alliance LLC grew its position in Applied Materials, Inc. (NASDAQ:AMAT) by 63.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,547 shares of the manufacturing equipment provider’s stock after acquiring an additional 600 shares during the quarter. Fiduciary Alliance LLC’s holdings in Applied Materials were worth $313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. JT Stratford LLC raised its stake in Applied Materials by 0.4% in the first quarter. JT Stratford LLC now owns 10,890 shares of the manufacturing equipment provider’s stock valued at $2,246,000 after buying an additional 48 shares during the last quarter. Financial Management Professionals Inc. increased its holdings in shares of Applied Materials by 5.6% in the first quarter. Financial Management Professionals Inc. now owns 924 shares of the manufacturing equipment provider’s stock valued at $191,000 after purchasing an additional 49 shares during the period. WASHINGTON TRUST Co increased its holdings in shares of Applied Materials by 3.3% in the second quarter. WASHINGTON TRUST Co now owns 1,556 shares of the manufacturing equipment provider’s stock valued at $367,000 after purchasing an additional 49 shares during the period. Optimum Investment Advisors increased its holdings in shares of Applied Materials by 1.3% in the second quarter. Optimum Investment Advisors now owns 4,016 shares of the manufacturing equipment provider’s stock valued at $948,000 after purchasing an additional 50 shares during the period. Finally, SlateStone Wealth LLC increased its holdings in shares of Applied Materials by 4.7% in the second quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock valued at $261,000 after purchasing an additional 50 shares during the period. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on AMAT shares. Susquehanna cut their price objective on Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday. UBS Group cut their price objective on Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a report on Friday, August 16th. Deutsche Bank Aktiengesellschaft dropped their target price on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. raised their target price on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $229.14.

Applied Materials Stock Performance

Shares of AMAT stock opened at $213.89 on Tuesday. The company has a market capitalization of $177.10 billion, a P/E ratio of 24.59, a P/E/G ratio of 2.66 and a beta of 1.54. The business’s 50 day moving average is $195.58 and its two-hundred day moving average is $209.83. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. Analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.75%. Applied Materials’s dividend payout ratio (DPR) 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.