AdvisorNet Financial Inc Decreases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

AdvisorNet Financial Inc trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 41.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,933 shares of the manufacturing equipment provider’s stock after selling 1,343 shares during the quarter. AdvisorNet Financial Inc’s holdings in Applied Materials were worth $314,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Forum Financial Management LP raised its stake in Applied Materials by 0.6% during the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after purchasing an additional 53 shares in the last quarter. Merriman Wealth Management LLC increased its holdings in shares of Applied Materials by 4.0% in the 2nd quarter. Merriman Wealth Management LLC now owns 1,438 shares of the manufacturing equipment provider’s stock worth $339,000 after buying an additional 55 shares during the last quarter. Sargent Investment Group LLC raised its position in shares of Applied Materials by 4.0% during the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock valued at $286,000 after buying an additional 55 shares in the last quarter. Biltmore Family Office LLC lifted its holdings in shares of Applied Materials by 5.3% in the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after acquiring an additional 55 shares during the last quarter. Finally, waypoint wealth counsel grew its position in Applied Materials by 3.1% in the third quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider’s stock worth $374,000 after acquiring an additional 56 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Price Performance

Shares of AMAT opened at $186.48 on Friday. 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 has a 50 day moving average price of $173.25 and a 200-day moving average price of $191.65. Applied Materials, Inc. has a fifty-two week low of $150.20 and a fifty-two week high of $255.89. The stock has a market capitalization of $151.74 billion, a PE ratio of 21.66, a PEG ratio of 1.75 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.13. The business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 EPS. Equities analysts predict that Applied Materials, Inc. will post 9.37 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, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is 18.58%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AMAT shares. Susquehanna lowered their price objective on Applied Materials from $190.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, November 11th. 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 research report on Tuesday, November 12th. TD Cowen cut their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. 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 report on Thursday, December 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.24.

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.