Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Palmer Knight Co

Palmer Knight Co reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,600 shares of the manufacturing equipment provider’s stock after selling 131 shares during the period. Applied Materials comprises 3.7% of Palmer Knight Co’s holdings, making the stock its 15th largest position. Palmer Knight Co’s holdings in Applied Materials were worth $6,094,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Global Wealth Management Investment Advisory Inc. raised its position in Applied Materials by 76.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after purchasing an additional 100 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of Applied Materials in the third quarter valued at $39,000. L2 Asset Management LLC grew its stake in shares of Applied Materials by 795.0% in the third quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock valued at $41,000 after buying an additional 26,298 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of Applied Materials in the third quarter valued at $42,000. Finally, Tompkins Financial Corp acquired a new position in Applied Materials during the 4th quarter worth $49,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AMAT has been the subject of several analyst reports. Susquehanna upped their price objective on Applied Materials from $138.00 to $160.00 and gave the stock a “neutral” rating in a research report on Friday, February 16th. Mizuho upped their price objective on Applied Materials from $185.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Bank Of America (Bofa) upped their price objective on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research note on Thursday, January 18th. Evercore ISI began coverage on Applied Materials in a research report on Tuesday, April 16th. They set an “outperform” rating and a $260.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on Applied Materials in a report on Thursday, April 11th. They issued a “hold” rating and a $225.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target of $201.50.

Applied Materials Stock Performance

Shares of AMAT traded up $0.70 during trading hours on Monday, reaching $204.08. 1,079,124 shares of the company traded hands, compared to its average volume of 6,059,896. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71. Applied Materials, Inc. has a 1-year low of $111.20 and a 1-year high of $214.91. The stock’s fifty day moving average is $203.42 and its 200 day moving average is $171.98. The stock has a market cap of $169.57 billion, a P/E ratio of 23.93, a price-to-earnings-growth ratio of 3.04 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. Equities research analysts anticipate that Applied Materials, Inc. will post 8.04 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio (DPR) is 15.06%.

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.