Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Allen Capital Group LLC

Allen Capital Group LLC lifted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,554 shares of the manufacturing equipment provider’s stock after purchasing an additional 187 shares during the period. Allen Capital Group LLC’s holdings in Applied Materials were worth $314,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Applied Materials in the second quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new stake in Applied Materials in the second quarter valued at $28,000. Clean Yield Group acquired a new stake in Applied Materials in the third quarter valued at $33,000. First PREMIER Bank raised its holdings in Applied Materials by 326.3% in the third 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 in the last quarter. Finally, PSI Advisors LLC raised its holdings in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after acquiring an additional 56 shares in the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of AMAT opened at $174.88 on Friday. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89. The company has a 50-day moving average of $189.83 and a two-hundred day moving average of $205.74. The stock has a market cap of $144.17 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.59 and a beta of 1.56. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

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. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $2.12 earnings per share. On average, equities research analysts expect that Applied Materials, Inc. will post 9.5 earnings per share for the current year.

Applied Materials Announces Dividend

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

Wall Street Analyst Weigh In

AMAT has been the subject of several recent research reports. Wells Fargo & Company lowered their target price on shares of Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Needham & Company LLC reduced their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. B. Riley reduced their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Finally, StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $222.05.

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.