Fingerlakes Wealth Management Inc. Has $1.10 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Fingerlakes Wealth Management Inc. trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,771 shares of the manufacturing equipment provider’s stock after selling 196 shares during the period. Fingerlakes Wealth Management Inc.’s holdings in Applied Materials were worth $1,101,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of AMAT. Forum Financial Management LP increased its holdings in shares of Applied Materials by 0.6% during the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after acquiring an additional 53 shares during the last quarter. Sargent Investment Group LLC grew its holdings in Applied Materials by 4.0% during the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock valued at $286,000 after purchasing an additional 55 shares during the last quarter. Biltmore Family Office LLC raised its position in shares of Applied Materials by 5.3% in the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after purchasing an additional 55 shares during the period. Field & Main Bank lifted its stake in shares of Applied Materials by 1.8% in the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock worth $516,000 after buying an additional 55 shares during the last quarter. Finally, BSW Wealth Partners boosted its holdings in shares of Applied Materials by 1.3% during the 3rd quarter. BSW Wealth Partners now owns 4,259 shares of the manufacturing equipment provider’s stock worth $860,000 after buying an additional 56 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

AMAT has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Sanford C. Bernstein cut their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Wells Fargo & Company cut their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Barclays lowered their price objective on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Applied Materials Trading Up 1.2 %

AMAT stock opened at $174.06 on Thursday. Applied Materials, Inc. has a 1-year low of $158.96 and a 1-year high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $175.39 and its 200-day moving average is $184.05. The firm has a market cap of $141.46 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.72 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Equities analysts anticipate that Applied Materials, Inc. will post 9.39 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is currently 20.92%.

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.