Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Trimmed by Evermay Wealth Management LLC

Evermay Wealth Management LLC cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 5.7% during the 4th quarter, HoldingsChannel reports. The firm owned 4,047 shares of the manufacturing equipment provider’s stock after selling 243 shares during the quarter. Evermay Wealth Management LLC’s holdings in Applied Materials were worth $656,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Atlantic Edge Private Wealth Management LLC acquired a new position in Applied Materials during the 4th quarter valued at about $27,000. DSM Capital Partners LLC acquired a new position in Applied Materials during the 4th quarter valued at about $37,000. Global Wealth Management Investment Advisory Inc. increased its stake in Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 100 shares during the period. First United Bank & Trust acquired a new position in Applied Materials during the 4th quarter valued at about $45,000. Finally, Tompkins Financial Corp acquired a new position in Applied Materials during the 4th quarter valued at about $49,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Up 1.3 %

Shares of AMAT stock traded up $2.94 during trading on Friday, hitting $220.89. 3,795,707 shares of the company were exchanged, compared to its average volume of 4,466,837. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. The firm has a market capitalization of $183.54 billion, a price-to-earnings ratio of 25.39, a P/E/G ratio of 2.89 and a beta of 1.58. The business’s 50-day simple moving average is $206.44 and its 200 day simple moving average is $182.20. Applied Materials, Inc. has a twelve month low of $126.13 and a twelve month high of $225.07.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 EPS for the quarter, topping the consensus estimate of $1.97 by $0.12. The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $6.54 billion. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the company posted $2.00 earnings per share. As a group, analysts forecast that Applied Materials, Inc. will post 8.32 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently declared 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 is a boost from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

Analysts Set New Price Targets

Several equities analysts have commented on AMAT shares. Raymond James raised their target price on shares of Applied Materials from $225.00 to $235.00 and gave the company an “outperform” rating in a research note on Friday, May 17th. Morgan Stanley raised their target price on shares of Applied Materials from $142.00 to $190.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Applied Materials in a research note on Thursday, April 11th. They issued a “hold” rating and a $225.00 price objective on the stock. Bank of America lifted their price objective on shares of Applied Materials from $222.00 to $250.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, Wells Fargo & Company lifted their price objective on shares of Applied Materials from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.64.

Applied Materials Company 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.