B. Riley Wealth Advisors Inc. Has $2.75 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

B. Riley Wealth Advisors Inc. lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 25.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,657 shares of the manufacturing equipment provider’s stock after selling 4,046 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Applied Materials were worth $2,751,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AMAT. Redmont Wealth Advisors LLC acquired a new stake in shares of Applied Materials during the 1st quarter worth approximately $26,000. Summit Securities Group LLC acquired a new stake in shares of Applied Materials during the 2nd quarter worth approximately $26,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Applied Materials during the 2nd quarter worth approximately $28,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Applied Materials during the 1st quarter worth approximately $35,000. Finally, RFP Financial Group LLC boosted its position in shares of Applied Materials by 96.6% during the 1st quarter. RFP Financial Group LLC now owns 173 shares of the manufacturing equipment provider’s stock worth $36,000 after acquiring an additional 85 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $197.20 on Wednesday. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89. The firm has a fifty day simple moving average of $194.74 and a 200 day simple moving average of $210.01. The company has a market capitalization of $163.28 billion, a PE ratio of 22.67, a P/E/G ratio of 2.30 and a beta of 1.55. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33.

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

Applied Materials Announces Dividend

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 0.81%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Morgan Stanley reduced their price target on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their target price on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Citigroup cut their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research report on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a research report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average 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.