Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Milestone Resources Group Ltd

Milestone Resources Group Ltd boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 41.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,334 shares of the manufacturing equipment provider’s stock after acquiring an additional 392 shares during the quarter. Applied Materials accounts for about 0.0% of Milestone Resources Group Ltd’s holdings, making the stock its 27th biggest holding. Milestone Resources Group Ltd’s holdings in Applied Materials were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC purchased a new stake in shares of Applied Materials during the 2nd quarter worth $26,000. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials during the 2nd quarter worth about $28,000. Clean Yield Group acquired a new position in shares of Applied Materials during the 3rd quarter worth about $33,000. First PREMIER Bank increased its holdings 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 acquiring an additional 124 shares during the last quarter. Finally, PSI Advisors LLC raised its position in shares of Applied Materials by 56.0% during the 2nd 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. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT traded up $1.44 during mid-day trading on Friday, hitting $170.52. The company’s stock had a trading volume of 1,094,736 shares, compared to its average volume of 6,181,004. The firm has a market capitalization of $140.58 billion, a P/E ratio of 19.64, a P/E/G ratio of 1.61 and a beta of 1.52. Applied Materials, Inc. has a 1-year low of $148.05 and a 1-year high of $255.89. The firm has a 50-day simple moving average of $183.52 and a 200 day simple moving average of $201.92. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the company posted $2.12 earnings per share. Analysts predict that Applied Materials, Inc. will post 9.48 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. Applied Materials’s dividend payout ratio is currently 18.58%.

Analyst Ratings Changes

A number of brokerages recently issued reports on AMAT. Citigroup lowered their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. TD Cowen lowered their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 15th. Wells Fargo & Company cut their price target on shares of Applied Materials from $220.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday, December 6th. Bank of America decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Sanford C. Bernstein cut their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. 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 company currently has an average rating of “Moderate Buy” and an average target price of $220.29.

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.