SWS Partners trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,490 shares of the manufacturing equipment provider’s stock after selling 610 shares during the quarter. SWS Partners’ holdings in Applied Materials were worth $1,109,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Redmont Wealth Advisors LLC bought a new stake in Applied Materials during the 1st quarter worth approximately $26,000. Summit Securities Group LLC bought a new stake in Applied Materials during the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials during the 2nd quarter worth approximately $28,000. Clean Yield Group bought a new stake in Applied Materials during the 3rd quarter worth approximately $33,000. Finally, First PREMIER Bank increased its holdings in Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.
Applied Materials Stock Performance
Shares of AMAT traded down $22.04 on Tuesday, reaching $191.85. The company’s stock had a trading volume of 11,199,760 shares, compared to its average volume of 6,032,506. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The stock has a market capitalization of $158.85 billion, a P/E ratio of 22.90, a PEG ratio of 2.66 and a beta of 1.54. The stock’s 50 day simple moving average is $195.58 and its two-hundred day simple moving average is $209.83. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89.
Applied Materials Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 yield of 0.83%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.39%.
Wall Street Analyst Weigh In
AMAT has been the topic of a number of research analyst reports. UBS Group decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. JPMorgan Chase & Co. increased their price target on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. B. Riley dropped their target price on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Citigroup dropped their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $229.14.
Check Out Our Latest Report on AMAT
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.
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