DAVENPORT & Co LLC Has $6.18 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

DAVENPORT & Co LLC lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,990 shares of the manufacturing equipment provider’s stock after buying an additional 137 shares during the period. DAVENPORT & Co LLC’s holdings in Applied Materials were worth $6,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Clean Yield Group purchased a new position in shares of Applied Materials in the 3rd quarter worth approximately $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 worth $33,000 after purchasing an additional 124 shares during the period. Crews Bank & Trust bought a new stake in shares of Applied Materials in the 4th quarter worth approximately $28,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials in the 3rd quarter worth approximately $37,000. Finally, DT Investment Partners LLC raised its holdings in shares of Applied Materials by 592.9% in the 3rd 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 during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 0.9 %

Shares of NASDAQ:AMAT opened at $178.80 on Tuesday. Applied Materials, Inc. has a 52-week low of $158.96 and a 52-week high of $255.89. The firm has a fifty day moving average of $174.48 and a 200 day moving average of $186.41. The firm has a market capitalization of $145.31 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 1.84 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period in the prior year, the business posted $2.12 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.89%. Applied Materials’s payout ratio is 18.58%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Sanford C. Bernstein lowered their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Wells Fargo & Company lowered their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Stifel Nicolaus lowered their target price on shares of 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

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.