Trust Co. of Oklahoma Raises Position in Applied Materials, Inc. (NASDAQ:AMAT)

Trust Co. of Oklahoma boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,636 shares of the manufacturing equipment provider’s stock after buying an additional 216 shares during the period. Trust Co. of Oklahoma’s holdings in Applied Materials were worth $1,892,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMAT. Public Sector Pension Investment Board lifted its holdings in shares of Applied Materials by 70.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 31,893 shares of the manufacturing equipment provider’s stock worth $7,526,000 after acquiring an additional 13,234 shares during the last quarter. AlTi Global Inc. raised its position in Applied Materials by 65.8% during the second quarter. AlTi Global Inc. now owns 13,924 shares of the manufacturing equipment provider’s stock valued at $3,286,000 after purchasing an additional 5,524 shares in the last quarter. AQR Capital Management LLC lifted its stake in Applied Materials by 8.6% during the second quarter. AQR Capital Management LLC now owns 1,490,874 shares of the manufacturing equipment provider’s stock worth $351,831,000 after purchasing an additional 117,793 shares during the last quarter. APG Asset Management US Inc. boosted its holdings in shares of Applied Materials by 2.2% in the 2nd quarter. APG Asset Management US Inc. now owns 259,548 shares of the manufacturing equipment provider’s stock worth $61,619,000 after purchasing an additional 5,488 shares in the last quarter. Finally, Delta Investment Management LLC increased its position in shares of Applied Materials by 13.9% during the 2nd quarter. Delta Investment Management LLC now owns 3,001 shares of the manufacturing equipment provider’s stock valued at $708,000 after purchasing an additional 367 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AMAT has been the subject of a number of recent research reports. Morgan Stanley restated an “underweight” rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, November 15th. Wells Fargo & Company reduced their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Sanford C. Bernstein cut their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Finally, KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price for the company in a research note on Friday, January 17th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

Applied Materials Price Performance

Shares of AMAT opened at $195.51 on Thursday. The company has a market capitalization of $159.08 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.97 and a beta of 1.53. Applied Materials, Inc. has a twelve month low of $158.96 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 firm has a 50 day moving average of $173.55 and a 200 day moving average of $189.91.

Applied Materials (NASDAQ:AMAT) last announced its quarterly 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. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the company posted $2.12 earnings per share. The company’s quarterly revenue was up 4.8% on a year-over-year basis. As a group, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.

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.