Advisors Management Group Inc. ADV Buys New Position in Applied Materials, Inc. (NASDAQ:AMAT)

Advisors Management Group Inc. ADV acquired a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 2,082 shares of the manufacturing equipment provider’s stock, valued at approximately $339,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clean Yield Group purchased a new stake in Applied Materials in the third quarter worth about $33,000. First PREMIER Bank grew its stake in shares of Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials in the 3rd quarter worth approximately $37,000. DT Investment Partners LLC raised its stake in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after acquiring an additional 166 shares during the period. Finally, Dunhill Financial LLC lifted its holdings in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on AMAT shares. TD Cowen cut their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Mizuho decreased their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Susquehanna dropped their price target on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. Morgan Stanley reiterated an “underweight” rating and set a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Finally, Bank of America dropped their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, November 15th. One investment 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’s stock. According to MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $218.24.

Applied Materials Stock Performance

Applied Materials stock opened at $178.32 on Thursday. 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 firm has a market capitalization of $145.10 billion, a P/E ratio of 20.71, a price-to-earnings-growth ratio of 1.61 and a beta of 1.53. Applied Materials, Inc. has a 1-year low of $149.84 and a 1-year high of $255.89. The company’s 50-day moving average is $173.43 and its 200 day moving average is $191.74.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (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 firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period last year, the company earned $2.12 EPS. Applied Materials’s quarterly revenue was up 4.8% compared to the same quarter last year. Research analysts forecast that Applied Materials, Inc. will post 9.48 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 18.58%.

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.