Holderness Investments Co. Grows Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Holderness Investments Co. boosted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,177 shares of the manufacturing equipment provider’s stock after buying an additional 105 shares during the quarter. Applied Materials accounts for about 3.8% of Holderness Investments Co.’s investment portfolio, making the stock its 4th largest position. Holderness Investments Co.’s holdings in Applied Materials were worth $16,089,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of AMAT. Summit Securities Group LLC acquired a new position in shares of Applied Materials in the 2nd quarter worth $26,000. Fairfield Financial Advisors LTD purchased a new position in Applied Materials in the 2nd quarter worth about $28,000. Redmont Wealth Advisors LLC acquired a new stake in Applied Materials during the 1st quarter worth about $26,000. PSI Advisors LLC raised its holdings in 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 buying an additional 56 shares during the period. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Applied Materials in the first quarter worth about $35,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $192.16 on Friday. The business’s 50-day simple moving average is $198.35 and its 200-day simple moving average is $210.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. Applied Materials, Inc. has a 52 week low of $129.21 and a 52 week high of $255.89. The firm has a market cap of $159.10 billion, a price-to-earnings ratio of 22.09, a P/E/G ratio of 2.21 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The firm had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the business earned $1.90 earnings per share. The company’s revenue was up 5.5% on a year-over-year basis. As a group, equities research analysts expect that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. B. Riley reduced their price target on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 16th. Citigroup decreased their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Needham & Company LLC reissued a “buy” rating and set a $260.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, August 16th. Finally, Dbs Bank downgraded Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.05.

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.