Cornerstone Wealth Management LLC lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 3.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,257 shares of the manufacturing equipment provider’s stock after purchasing an additional 114 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Applied Materials were worth $451,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. California Public Employees Retirement System grew its holdings in shares of Applied Materials by 0.3% during the 3rd quarter. California Public Employees Retirement System now owns 2,161,556 shares of the manufacturing equipment provider’s stock valued at $299,267,000 after purchasing an additional 6,466 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in shares of Applied Materials by 9.1% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 830,038 shares of the manufacturing equipment provider’s stock valued at $114,919,000 after purchasing an additional 69,388 shares during the last quarter. New England Research & Management Inc. bought a new stake in shares of Applied Materials during the 3rd quarter valued at approximately $433,000. Claro Advisors LLC grew its holdings in shares of Applied Materials by 8.3% during the 2nd quarter. Claro Advisors LLC now owns 5,370 shares of the manufacturing equipment provider’s stock valued at $776,000 after purchasing an additional 411 shares during the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of Applied Materials by 26.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,068,445 shares of the manufacturing equipment provider’s stock valued at $147,926,000 after purchasing an additional 223,984 shares during the last quarter. 77.24% of the stock is owned by institutional investors.
Applied Materials Price Performance
AMAT opened at $166.24 on Wednesday. The firm has a market cap of $138.32 billion, a P/E ratio of 20.50, a PEG ratio of 3.32 and a beta of 1.58. The firm has a 50-day moving average of $156.76 and a 200 day moving average of $147.73. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.82 and a current ratio of 2.60. Applied Materials, Inc. has a fifty-two week low of $108.61 and a fifty-two week high of $178.40.
Applied Materials Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 22nd will be given a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Wednesday, February 21st. Applied Materials’s dividend payout ratio (DPR) is 15.78%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on AMAT shares. Raymond James lifted their price target on shares of Applied Materials from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Friday, January 19th. Morgan Stanley lifted their target price on shares of Applied Materials from $139.00 to $142.00 and gave the stock an “equal weight” rating in a research report on Friday, November 17th. Needham & Company LLC reiterated a “buy” rating and set a $180.00 target price on shares of Applied Materials in a research report on Friday, November 17th. Bank Of America (Bofa) lifted their target price on shares of Applied Materials from $170.00 to $185.00 and gave the stock a “buy” rating in a research report on Thursday, January 18th. Finally, Barclays lifted their target price on shares of Applied Materials from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.92.
Insider Buying and Selling
In related news, SVP Omkaram Nalamasu sold 23,228 shares of the company’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $162.45, for a total value of $3,773,388.60. Following the transaction, the senior vice president now directly owns 190,972 shares in the company, valued at $31,023,401.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by company insiders.
About Applied Materials
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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