Alpha Omega Wealth Management LLC Cuts Position in Applied Materials, Inc. (NASDAQ:AMAT)

Alpha Omega Wealth Management LLC decreased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.1% in the 4th quarter, Holdings Channel reports. The firm owned 5,304 shares of the manufacturing equipment provider’s stock after selling 115 shares during the quarter. Alpha Omega Wealth Management LLC’s holdings in Applied Materials were worth $860,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Financial Freedom LLC purchased a new stake in Applied Materials during the fourth quarter worth $25,000. Global Wealth Management Investment Advisory Inc. grew its position in shares of Applied Materials by 76.9% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. BluePath Capital Management LLC acquired a new position in shares of Applied Materials during the 3rd quarter worth approximately $39,000. Quarry LP purchased a new position in Applied Materials during the first quarter worth $40,000. Finally, RVW Wealth LLC acquired a new position in shares of Applied Materials in the third quarter worth $41,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

AMAT traded down $9.19 on Wednesday, hitting $200.29. 3,639,692 shares of the company’s stock were exchanged, compared to its average volume of 6,162,718. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average of $201.54 and a two-hundred day moving average of $168.85. The firm has a market cap of $166.42 billion, a PE ratio of 24.05, a P/E/G ratio of 3.08 and a beta of 1.59. Applied Materials, Inc. has a twelve month low of $109.12 and a twelve month high of $214.91.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The business had revenue of $6.71 billion during the quarter, compared to analyst estimates of $6.48 billion. During the same quarter in the previous year, the firm posted $2.03 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, research analysts anticipate that Applied Materials, Inc. will post 8.04 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.80%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio (DPR) is presently 15.06%.

Analysts Set New Price Targets

AMAT has been the topic of a number of recent research reports. Susquehanna upped their target price on shares of Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Needham & Company LLC increased their price target on shares of Applied Materials from $180.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Bank Of America (Bofa) boosted their price target on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. UBS Group raised their price objective on Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Finally, Cantor Fitzgerald raised shares of Applied Materials from a “neutral” rating to an “overweight” rating and raised their target price for the company from $220.00 to $260.00 in a research note on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials currently has an average rating of “Moderate Buy” and an average price target of $201.50.

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.