Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 55.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,145 shares of the manufacturing equipment provider’s stock after selling 7,510 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Applied Materials were worth $1,242,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in shares of Applied Materials in the second quarter valued at about $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials during the 2nd quarter valued at approximately $28,000. PSI Advisors LLC boosted its stake 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. Clean Yield Group acquired a new stake in shares of Applied Materials in the 3rd quarter worth approximately $33,000. Finally, First PREMIER Bank raised its holdings in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Up 1.8 %

Shares of NASDAQ:AMAT opened at $186.00 on Friday. Applied Materials, Inc. has a fifty-two week low of $141.94 and a fifty-two week high of $255.89. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. The company has a market cap of $153.34 billion, a PE ratio of 20.90, a P/E/G ratio of 2.24 and a beta of 1.56. The company’s 50-day moving average price is $190.88 and its 200 day moving average price is $207.13.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company earned $1.90 earnings per share. Sell-side analysts anticipate that Applied Materials, Inc. will post 8.51 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. Applied Materials’s dividend payout ratio (DPR) is 17.98%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Mizuho lowered their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Dbs Bank lowered Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Susquehanna reduced their price objective on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday. B. Riley dropped their price objective on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Finally, Morgan Stanley reduced their target price on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a report on Friday. Eight equities research analysts have rated the stock with 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 $222.90.

Applied Materials Company 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.