Pinnacle Financial Partners Inc Buys 439 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Pinnacle Financial Partners Inc boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 24.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,241 shares of the manufacturing equipment provider’s stock after buying an additional 439 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Applied Materials were worth $364,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in Applied Materials during the fourth quarter worth about $28,000. MidAtlantic Capital Management Inc. bought a new position in Applied Materials during the third quarter worth about $37,000. YANKCOM Partnership bought a new position in Applied Materials during the fourth quarter worth about $32,000. Dunhill Financial LLC boosted its position in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after purchasing an additional 81 shares during the period. Finally, City Holding Co. bought a new position in Applied Materials during the fourth quarter worth about $39,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 2.3 %

Shares of NASDAQ AMAT opened at $171.98 on Monday. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The firm’s 50 day simple moving average is $175.64 and its two-hundred day simple moving average is $183.90. The stock has a market capitalization of $139.77 billion, a P/E ratio of 22.48, a PEG ratio of 1.85 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. As a group, analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is currently 20.92%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on AMAT. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. Susquehanna increased their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Stifel Nicolaus lowered their price target on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Needham & Company LLC lowered their price target on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $215.38.

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.