Grimes & Company Inc. Has $12.19 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Grimes & Company Inc. lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,931 shares of the manufacturing equipment provider’s stock after purchasing an additional 557 shares during the period. Grimes & Company Inc.’s holdings in Applied Materials were worth $12,186,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Dark Forest Capital Management LP bought a new stake in Applied Materials during the 2nd quarter valued at approximately $245,000. MBB Public Markets I LLC increased its holdings in Applied Materials by 238.1% during the 2nd quarter. MBB Public Markets I LLC now owns 76,121 shares of the manufacturing equipment provider’s stock valued at $17,964,000 after purchasing an additional 53,606 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in Applied Materials during the 2nd quarter valued at $1,052,000. The Manufacturers Life Insurance Company increased its holdings in Applied Materials by 23.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,044,543 shares of the manufacturing equipment provider’s stock valued at $246,502,000 after purchasing an additional 199,087 shares in the last quarter. Finally, Lighthouse Investment Partners LLC bought a new position in Applied Materials in the 2nd quarter valued at $2,006,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Down 2.1 %

Shares of AMAT stock opened at $186.75 on Friday. The stock’s fifty day moving average price is $174.00 and its two-hundred day moving average price is $189.50. The company has a market cap of $151.95 billion, a PE ratio of 21.69, a P/E/G ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a fifty-two week low of $158.96 and a fifty-two week high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results 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. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. Applied Materials’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.12 EPS. Equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. TD Cowen reduced their price target 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. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target on the stock in a research note on Friday, January 17th. Susquehanna upped their target price on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. Needham & Company LLC dropped their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Morgan Stanley reiterated an “underweight” rating and set a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $218.71.

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.