Raymond James Trust N.A. Has $16.14 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Raymond James Trust N.A. reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 79,872 shares of the manufacturing equipment provider’s stock after selling 582 shares during the quarter. Raymond James Trust N.A.’s holdings in Applied Materials were worth $16,138,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. WASHINGTON TRUST Co lifted its holdings in Applied Materials by 3.3% during 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 last quarter. Optimum Investment Advisors raised its position 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. SlateStone Wealth LLC lifted its stake in shares of Applied Materials by 4.7% during the 2nd quarter. SlateStone Wealth LLC now owns 1,105 shares of the manufacturing equipment provider’s stock valued at $261,000 after buying an additional 50 shares in the last quarter. Forum Financial Management LP boosted its holdings in Applied Materials by 0.6% in the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock worth $1,847,000 after buying an additional 53 shares during the period. Finally, Northwest Investment Counselors LLC grew its stake in Applied Materials by 0.9% in the 2nd quarter. Northwest Investment Counselors LLC now owns 6,090 shares of the manufacturing equipment provider’s stock valued at $1,437,000 after buying an additional 54 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $175.34 on Friday. The stock’s 50-day moving average is $190.11 and its 200 day moving average is $205.97. The stock has a market cap of $144.55 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.59 and a beta of 1.56. Applied Materials, Inc. has a 1-year low of $144.57 and a 1-year high of $255.89. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last posted its quarterly 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. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same period last year, the firm posted $2.12 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.5 EPS for the current fiscal year.

Applied Materials Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Evercore ISI dropped their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Needham & Company LLC reduced their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. TD Cowen lowered their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Susquehanna cut their price objective on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research report on Monday, November 11th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $219.81.

Applied Materials 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.