Phraction Management LLC Has $3.71 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Phraction Management LLC boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,834 shares of the manufacturing equipment provider’s stock after acquiring an additional 506 shares during the quarter. Applied Materials accounts for 1.3% of Phraction Management LLC’s portfolio, making the stock its 23rd largest position. Phraction Management LLC’s holdings in Applied Materials were worth $3,713,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of AMAT. Crews Bank & Trust acquired a new position in Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership acquired a new stake in shares of Applied Materials in the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials in the third quarter valued at $37,000. DT Investment Partners LLC increased its stake in shares of Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 166 shares in the last quarter. Finally, City Holding Co. acquired a new stake in shares of Applied Materials in the fourth quarter valued at $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on AMAT. Mizuho lowered their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Bank of America decreased their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Evercore ISI decreased their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. The Goldman Sachs Group decreased their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Finally, KeyCorp upgraded Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target on the stock in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $218.00.

Applied Materials Trading Down 1.3 %

NASDAQ AMAT opened at $180.89 on Thursday. The firm has a market cap of $147.01 billion, a P/E ratio of 21.01, a P/E/G ratio of 1.86 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The stock’s 50-day moving average is $175.20 and its 200-day moving average is $184.87. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping 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 company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same quarter last year, the firm posted $2.12 earnings per share. Applied Materials’s revenue was up 4.8% compared to the same quarter last year. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 18.58%.

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.