Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Patrick M Sweeney & Associates Inc.

Patrick M Sweeney & Associates Inc. increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,783 shares of the manufacturing equipment provider’s stock after acquiring an additional 85 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Applied Materials were worth $453,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Clean Yield Group acquired a new stake in shares of Applied Materials during the 3rd quarter worth $33,000. First PREMIER Bank increased its holdings in shares of Applied Materials by 326.3% during the 3rd 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 last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials during the 3rd quarter worth $37,000. DT Investment Partners LLC increased its holdings in shares of Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after buying an additional 166 shares during the last quarter. Finally, Dunhill Financial LLC increased its holdings in shares of Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after buying an additional 81 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of AMAT stock opened at $174.57 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The company’s 50-day simple moving average is $174.00 and its 200-day simple moving average is $188.61. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89. The stock has a market capitalization of $142.04 billion, a price-to-earnings ratio of 20.28, a PEG ratio of 1.99 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter last year, the company posted $2.12 earnings per share. Applied Materials’s revenue was up 4.8% on a year-over-year basis. Equities analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. Applied Materials’s dividend payout ratio is currently 18.58%.

Analysts Set New Price Targets

Several brokerages recently issued reports on AMAT. Wells Fargo & Company lowered their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Mizuho lowered their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Susquehanna increased their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Finally, Stifel Nicolaus lowered their price target on Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and a consensus price target of $218.71.

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.