Applied Materials, Inc. (NASDAQ:AMAT) Position Trimmed by Bar Harbor Wealth Management

Bar Harbor Wealth Management lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 8,336 shares of the manufacturing equipment provider’s stock after selling 68 shares during the period. Bar Harbor Wealth Management’s holdings in Applied Materials were worth $1,684,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of AMAT. Swedbank AB purchased a new position in Applied Materials during the 1st quarter valued at about $773,611,000. Janus Henderson Group PLC grew its stake in shares of Applied Materials by 126.4% in the 1st quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock valued at $464,974,000 after buying an additional 1,259,111 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Applied Materials by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider’s stock valued at $15,469,028,000 after buying an additional 891,446 shares in the last quarter. EdgePoint Investment Group Inc. bought a new stake in shares of Applied Materials in the 1st quarter valued at approximately $162,873,000. Finally, Van ECK Associates Corp grew its stake in shares of Applied Materials by 20.4% in the 1st quarter. Van ECK Associates Corp now owns 4,623,048 shares of the manufacturing equipment provider’s stock valued at $953,411,000 after buying an additional 784,780 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on AMAT. Mizuho lowered their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research note on Friday, September 20th. Citigroup lowered their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Stifel Nicolaus reduced their target price on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a report on Tuesday, October 8th. Finally, StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $229.14.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $183.24 on Friday. The firm’s 50-day moving average is $195.71 and its 200-day moving average is $209.36. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-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. The company has a market cap of $151.72 billion, a price-to-earnings ratio of 21.06, a PEG ratio of 2.66 and a beta of 1.54.

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

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 dividend on an annualized basis and a yield of 0.87%. Applied Materials’s payout ratio is currently 18.39%.

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.