Aberdeen Wealth Management LLC Has $2.42 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Aberdeen Wealth Management LLC reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 11,995 shares of the manufacturing equipment provider’s stock after selling 197 shares during the quarter. Applied Materials comprises about 1.6% of Aberdeen Wealth Management LLC’s investment portfolio, making the stock its 13th largest position. Aberdeen Wealth Management LLC’s holdings in Applied Materials were worth $2,424,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Summit Securities Group LLC acquired a new position in Applied Materials during the second quarter valued at approximately $26,000. Fairfield Financial Advisors LTD bought a new position in shares of Applied Materials during the second quarter worth $28,000. Clean Yield Group acquired a new position in shares of Applied Materials in the 3rd quarter valued at $33,000. First PREMIER Bank increased its position 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 buying an additional 124 shares in the last quarter. Finally, PSI Advisors LLC lifted its holdings in Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after acquiring an additional 56 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Price Performance

NASDAQ:AMAT opened at $170.73 on Tuesday. The stock has a market capitalization of $140.75 billion, a PE ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 1.56. Applied Materials, Inc. has a 1-year low of $144.57 and a 1-year high of $255.89. The firm has a fifty day simple moving average of $190.75 and a 200 day simple moving average of $206.68. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping 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 company had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same period in the previous year, the business earned $2.12 EPS. Applied Materials’s revenue for the quarter was up 4.8% compared to the same quarter last year. On average, research analysts expect that Applied Materials, Inc. will post 9.52 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Analyst Ratings Changes

A number of equities research analysts have recently commented on AMAT shares. TD Cowen dropped their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday. Stifel Nicolaus dropped 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. StockNews.com cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Mizuho dropped their price objective on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Finally, Dbs Bank cut shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $219.81.

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.