Tealwood Asset Management Inc. Boosts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Tealwood Asset Management Inc. grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,137 shares of the manufacturing equipment provider’s stock after purchasing an additional 123 shares during the quarter. Tealwood Asset Management Inc.’s holdings in Applied Materials were worth $1,644,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of AMAT. Summit Securities Group LLC purchased a new position in shares of Applied Materials during the second quarter worth approximately $26,000. Fairfield Financial Advisors LTD bought a new position in shares of Applied Materials during the second quarter valued at about $28,000. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials during the 1st quarter valued at about $26,000. PSI Advisors LLC lifted its position in Applied Materials by 56.0% in the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after purchasing an additional 56 shares during the last quarter. Finally, Clean Yield Group purchased a new stake in shares of Applied Materials during the third quarter valued at approximately $33,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on AMAT. UBS Group decreased their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. JPMorgan Chase & Co. upped their target price on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Stifel Nicolaus cut their price objective on Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Mizuho lowered their price target on shares of Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, September 20th. Finally, Wells Fargo & Company dropped their target price on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.90.

Applied Materials Trading Up 0.7 %

Shares of Applied Materials stock traded up $1.40 during trading on Tuesday, hitting $201.53. The stock had a trading volume of 841,417 shares, compared to its average volume of 6,034,037. The stock has a market cap of $166.86 billion, a PE ratio of 23.20, a PEG ratio of 2.30 and a beta of 1.54. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $255.89. The firm’s fifty day simple moving average is $194.38 and its 200-day simple moving average is $209.90. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

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, beating the consensus estimate of $2.02 by $0.10. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. During the same quarter in the previous year, the business earned $1.90 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.79%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

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.