Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,682 shares of the manufacturing equipment provider’s stock after selling 560 shares during the quarter. Fragasso Financial Advisors Inc’s holdings in Applied Materials were worth $4,014,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AMAT. Fairfield Financial Advisors LTD purchased a new stake in Applied Materials during the second quarter valued at about $28,000. Clean Yield Group purchased a new stake in Applied Materials during the third quarter valued at about $33,000. First PREMIER Bank grew its position in Applied Materials by 326.3% during 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 during the period. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials during the third quarter valued at about $37,000. Finally, DT Investment Partners LLC boosted its position in shares of Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after buying an additional 166 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Trading Down 0.5 %

NASDAQ:AMAT traded down $0.86 during trading hours on Monday, hitting $170.79. 2,102,607 shares of the stock were exchanged, compared to its average volume of 5,513,938. The company’s 50 day moving average is $173.91 and its two-hundred day moving average is $192.62. Applied Materials, Inc. has a twelve month low of $149.84 and a twelve month high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $138.97 billion, a P/E ratio of 19.84, a price-to-earnings-growth ratio of 1.61 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.12 EPS. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.48 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors 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%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMAT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. Evercore ISI decreased their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. The Goldman Sachs Group decreased their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday. Bank of America decreased their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Susquehanna reduced their price target on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, November 11th. One investment 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’s stock. According to MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus target price of $218.24.

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.