Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Northwest & Ethical Investments L.P.

Northwest & Ethical Investments L.P. boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 187,794 shares of the manufacturing equipment provider’s stock after purchasing an additional 15,082 shares during the quarter. Applied Materials makes up approximately 1.0% of Northwest & Ethical Investments L.P.’s holdings, making the stock its 14th largest position. Northwest & Ethical Investments L.P.’s holdings in Applied Materials were worth $37,944,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in AMAT. Summit Securities Group LLC acquired a new stake in shares of Applied Materials in the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials in the second quarter valued at approximately $28,000. PSI Advisors LLC raised its holdings in shares of Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the last quarter. Clean Yield Group acquired a new position in shares of Applied Materials during the third quarter worth approximately $33,000. Finally, First PREMIER Bank boosted its position in shares of 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 buying an additional 124 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded down $1.88 during trading hours on Thursday, hitting $171.32. 4,345,349 shares of the stock were exchanged, compared to its average volume of 6,167,937. 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 company’s 50 day moving average is $188.97 and its 200 day moving average is $204.99. The firm has a market capitalization of $141.24 billion, a P/E ratio of 19.90, a P/E/G ratio of 1.64 and a beta of 1.56. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued 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. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the firm earned $2.12 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, research analysts expect that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMAT. Wells Fargo & Company cut their target price on Applied Materials from $235.00 to $220.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. TD Cowen reduced their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 15th. Mizuho lowered their target price on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Finally, Evercore ISI decreased their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $222.05.

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.