Fortune Financial Advisors LLC Boosts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Fortune Financial Advisors LLC lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,051 shares of the manufacturing equipment provider’s stock after acquiring an additional 184 shares during the period. Applied Materials accounts for approximately 1.8% of Fortune Financial Advisors LLC’s investment portfolio, making the stock its 18th biggest holding. Fortune Financial Advisors LLC’s holdings in Applied Materials were worth $1,960,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new position in Applied Materials in the 4th quarter valued at $28,000. Clean Yield Group purchased a new stake in shares of Applied Materials in the third quarter valued at about $33,000. First PREMIER Bank boosted its holdings in shares of Applied Materials by 326.3% in the third 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. purchased a new position in Applied Materials during the third quarter worth about $37,000. Finally, DT Investment Partners LLC lifted its position in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after purchasing an additional 166 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Performance

AMAT opened at $181.72 on Friday. The stock has a market cap of $147.86 billion, a PE ratio of 21.11, a P/E/G ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The stock’s 50 day simple moving average is $174.24 and its 200-day simple moving average is $187.55. 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 issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share 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 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. The firm’s revenue was up 4.8% on a year-over-year basis. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS 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 paid 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 0.88%. Applied Materials’s dividend payout ratio is currently 18.58%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. TD Cowen reduced their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Bank of America lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. Mizuho reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. One investment 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, the stock has an average 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.