Avidian Wealth Solutions LLC Raises Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Avidian Wealth Solutions LLC raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,216 shares of the manufacturing equipment provider’s stock after acquiring an additional 150 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Applied Materials were worth $285,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in AMAT. Vulcan Value Partners LLC acquired a new stake in Applied Materials during the 2nd quarter worth approximately $437,398,000. Amundi acquired a new stake in Applied Materials during the 2nd quarter worth approximately $401,644,000. FMR LLC lifted its position in Applied Materials by 13.6% during the 2nd quarter. FMR LLC now owns 21,693,309 shares of the manufacturing equipment provider’s stock worth $3,089,127,000 after acquiring an additional 2,593,318 shares during the period. Nordea Investment Management AB lifted its position in Applied Materials by 91.9% during the 3rd quarter. Nordea Investment Management AB now owns 3,617,156 shares of the manufacturing equipment provider’s stock worth $470,810,000 after acquiring an additional 1,732,627 shares during the period. Finally, Morgan Stanley lifted its position in Applied Materials by 36.1% during the 2nd quarter. Morgan Stanley now owns 5,498,783 shares of the manufacturing equipment provider’s stock worth $783,027,000 after acquiring an additional 1,458,640 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

Shares of Applied Materials stock opened at $167.00 on Friday. Applied Materials, Inc. has a twelve month low of $96.07 and a twelve month high of $167.06. The stock has a market capitalization of $148.38 billion, a P/E ratio of 26.05, a PEG ratio of 1.65 and a beta of 1.38. The company has a current ratio of 2.54, a quick ratio of 1.86 and a debt-to-equity ratio of 0.45. The business’s fifty day moving average price is $153.22 and its 200 day moving average price is $141.59.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 18th. The manufacturing equipment provider reported $1.94 EPS for the quarter, missing the consensus estimate of $1.95 by ($0.01). Applied Materials had a net margin of 25.53% and a return on equity of 52.64%. The company had revenue of $6.12 billion during the quarter, compared to analysts’ expectations of $6.34 billion. During the same period last year, the business earned $1.25 earnings per share. The company’s revenue for the quarter was up 30.5% compared to the same quarter last year. As a group, sell-side analysts predict that Applied Materials, Inc. will post 8.13 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 16th. Shareholders of record on Wednesday, February 23rd will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, February 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 14.98%.

A number of research firms have weighed in on AMAT. Cowen increased their price objective on Applied Materials from $175.00 to $190.00 and gave the stock an “outperform” rating in a research report on Friday, November 19th. Citigroup increased their target price on Applied Materials from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, December 1st. Needham & Company LLC increased their target price on Applied Materials from $153.00 to $166.00 and gave the stock a “buy” rating in a research note on Friday, November 19th. Stifel Nicolaus increased their target price on Applied Materials from $180.00 to $189.00 and gave the stock a “buy” rating in a research note on Friday, November 19th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Applied Materials from $170.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, December 15th. Seven analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials currently has an average rating of “Buy” and a consensus price target of $166.00.

In other news, CEO Gary E. Dickerson sold 300,000 shares of Applied Materials stock in a transaction dated Wednesday, December 1st. The stock was sold at an average price of $152.79, for a total transaction of $45,837,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

Applied Materials Company Profile

Applied Materials, Inc engages in the provision of materials engineering solutions used to produce new chip and advanced display. It operates through the following segments: Semiconductor Systems, Applied Global Services, and Display & Adjacent Markets. The Semiconductor Systems segment includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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