Successful Portfolios LLC Sells 761 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Successful Portfolios LLC cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 10.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,520 shares of the manufacturing equipment provider’s stock after selling 761 shares during the quarter. Successful Portfolios LLC’s holdings in Applied Materials were worth $1,317,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Applied Materials in the first quarter worth approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Applied Materials in the second quarter worth approximately $26,000. Fairfield Financial Advisors LTD purchased a new position in Applied Materials during the second quarter worth approximately $28,000. Clean Yield Group purchased a new position in Applied Materials during the third quarter worth approximately $33,000. Finally, First PREMIER Bank raised its position in 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 purchasing an additional 124 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMAT. Deutsche Bank Aktiengesellschaft decreased their target price on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, August 16th. Susquehanna cut their price target on Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday. JPMorgan Chase & Co. upped their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Stifel Nicolaus cut their price target on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Finally, Morgan Stanley dropped their price objective on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average target price of $229.14.

Applied Materials Price Performance

AMAT stock traded up $2.09 during midday trading on Friday, hitting $206.05. 672,322 shares of the stock were exchanged, compared to its average volume of 6,000,497. The stock’s 50-day moving average price is $194.48 and its 200-day moving average price is $209.76. The stock has a market cap of $169.87 billion, a price-to-earnings ratio of 22.80, a PEG ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The company had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. Applied Materials’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. Research analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current year.

Applied Materials Announces Dividend

The firm also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 17.98%.

Applied Materials 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.