Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Essex Financial Services Inc.

Essex Financial Services Inc. boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,894 shares of the manufacturing equipment provider’s stock after acquiring an additional 101 shares during the quarter. Essex Financial Services Inc.’s holdings in Applied Materials were worth $633,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Crews Bank & Trust purchased a new position in shares of Applied Materials in the fourth quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new position in Applied Materials in the 3rd quarter worth $37,000. DT Investment Partners LLC boosted its position in Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 166 shares during the last quarter. YANKCOM Partnership acquired a new stake in shares of Applied Materials during the fourth quarter valued at about $32,000. Finally, Dunhill Financial LLC grew its stake in shares of Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 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 NASDAQ AMAT opened at $180.89 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The firm has a market capitalization of $147.01 billion, a PE ratio of 21.01, a P/E/G ratio of 1.86 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 business’s fifty day moving average price is $175.20 and its two-hundred day moving average price is $184.87.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The business had revenue of $7.05 billion for 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 company’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.12 EPS. On average, research analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.88%. Applied Materials’s payout ratio is currently 18.58%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMAT shares. KeyCorp upgraded Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective for the company in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Needham & Company LLC reduced their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Susquehanna boosted their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $218.00.

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.