1776 Wealth LLC Sells 280 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

1776 Wealth LLC cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 6.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,213 shares of the manufacturing equipment provider’s stock after selling 280 shares during the period. 1776 Wealth LLC’s holdings in Applied Materials were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp lifted its holdings in shares of Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after buying an additional 1,509,439 shares in the last quarter. WoodTrust Financial Corp increased its holdings in shares of Applied Materials by 47.0% in the third quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock worth $13,722,000 after purchasing an additional 21,699 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Applied Materials by 1.4% during the third quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock valued at $230,158,000 after buying an additional 15,183 shares during the last quarter. Stiles Financial Services Inc boosted its position in shares of Applied Materials by 252.0% during the 3rd quarter. Stiles Financial Services Inc now owns 4,734 shares of the manufacturing equipment provider’s stock valued at $957,000 after acquiring an additional 3,389 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Applied Materials by 89.3% in the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock worth $2,121,000 after buying an additional 4,239 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMAT. Evercore ISI dropped their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday. Morgan Stanley lowered their price target on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a research report on Friday. Mizuho dropped their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Needham & Company LLC reduced their price objective on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday. Finally, UBS Group decreased their price target on Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a report on Thursday, September 12th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus target price of $219.81.

Applied Materials Price Performance

AMAT stock traded down $17.12 during trading on Friday, hitting $168.88. The stock had a trading volume of 16,287,484 shares, compared to its average volume of 6,137,177. Applied Materials, Inc. has a 1-year low of $141.94 and a 1-year high of $255.89. The stock has a market cap of $139.22 billion, a price-to-earnings ratio of 18.98, a price-to-earnings-growth ratio of 2.24 and a beta of 1.56. The company’s 50 day moving average price is $190.88 and its two-hundred day moving average price is $206.73. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 earnings per share. On average, sell-side analysts forecast that Applied Materials, Inc. will post 8.51 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.95%. Applied Materials’s payout ratio is currently 17.98%.

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.