Advisors Asset Management Inc. Decreases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Advisors Asset Management Inc. cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 21.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,451 shares of the manufacturing equipment provider’s stock after selling 7,140 shares during the period. Advisors Asset Management Inc.’s holdings in Applied Materials were worth $5,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMAT. Summit Securities Group LLC purchased a new stake in shares of Applied Materials in the second quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new position in Applied Materials in the second quarter worth approximately $28,000. Clean Yield Group bought a new position in Applied Materials in the third quarter worth approximately $33,000. First PREMIER Bank grew its stake in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares in the last quarter. Finally, PSI Advisors LLC grew its stake in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after purchasing an additional 56 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AMAT. JPMorgan Chase & Co. increased their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Needham & Company LLC dropped their target price on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Bank of America dropped their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company dropped their target price on Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Finally, Citigroup dropped their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.81.

Applied Materials Trading Up 3.1 %

NASDAQ AMAT opened at $175.34 on Friday. The stock has a market capitalization of $144.55 billion, a P/E ratio of 20.36, a P/E/G ratio of 1.59 and a beta of 1.56. Applied Materials, Inc. has a 52-week low of $144.57 and a 52-week high of $255.89. The firm has a 50-day moving average price of $190.11 and a 200 day moving average price of $205.97. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period last year, the company posted $2.12 earnings per share. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. Equities research analysts expect that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. Applied Materials’s dividend payout ratio 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.