Pflug Koory LLC Grows Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Pflug Koory LLC boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.5% in the 4th quarter, Holdings Channel reports. The firm owned 22,982 shares of the manufacturing equipment provider’s stock after acquiring an additional 115 shares during the quarter. Applied Materials accounts for approximately 1.9% of Pflug Koory LLC’s portfolio, making the stock its 6th largest position. Pflug Koory LLC’s holdings in Applied Materials were worth $3,738,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Clean Yield Group bought a new stake in Applied Materials during the third quarter valued at $33,000. First PREMIER Bank raised its holdings in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials during the 3rd quarter valued at about $37,000. DT Investment Partners LLC grew its holdings in shares of Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of Applied Materials in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on AMAT shares. Morgan Stanley reiterated an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. The Goldman Sachs Group cut their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Susquehanna raised their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday. Needham & Company LLC cut their price objective on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Finally, Stifel Nicolaus decreased their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and a consensus price target of $218.71.

Applied Materials Stock Down 2.1 %

NASDAQ AMAT opened at $186.75 on Friday. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The stock has a market capitalization of $151.95 billion, a PE ratio of 21.69, a PEG ratio of 1.99 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The business’s 50-day moving average is $173.64 and its 200 day moving average is $189.92.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company earned $2.12 EPS. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.86%. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

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.