Benjamin Edwards Inc. Buys 383 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Benjamin Edwards Inc. lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,804 shares of the manufacturing equipment provider’s stock after acquiring an additional 383 shares during the quarter. Applied Materials makes up 1.0% of Benjamin Edwards Inc.’s holdings, making the stock its 16th biggest holding. Benjamin Edwards Inc.’s holdings in Applied Materials were worth $5,381,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Precision Wealth Strategies LLC increased its holdings in Applied Materials by 8.5% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,097 shares of the manufacturing equipment provider’s stock worth $502,000 after purchasing an additional 242 shares in the last quarter. Gilbert & Cook Inc. increased its holdings in Applied Materials by 11.1% in the fourth quarter. Gilbert & Cook Inc. now owns 4,182 shares of the manufacturing equipment provider’s stock worth $678,000 after purchasing an additional 418 shares in the last quarter. Gryphon Financial Partners LLC increased its holdings in Applied Materials by 5.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,609 shares of the manufacturing equipment provider’s stock worth $249,000 after purchasing an additional 84 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Applied Materials by 10.6% in the fourth quarter. Clearbridge Investments LLC now owns 197,905 shares of the manufacturing equipment provider’s stock worth $32,074,000 after purchasing an additional 19,033 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Applied Materials in the fourth quarter worth approximately $369,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $196.71 on Friday. 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 $162.87 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 2.21 and a beta of 1.55. The business’s fifty day moving average is $199.38 and its 200 day moving average is $210.28.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the previous year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts predict that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.81%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on AMAT shares. Morgan Stanley lowered their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating for the company in a report on Tuesday. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Friday, August 16th. Citigroup reduced their price objective on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday. Barclays raised Applied Materials from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $165.00 to $225.00 in a research note on Wednesday, June 5th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a research note on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $232.00.

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.