RWA Wealth Partners LLC Acquires 6,937 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

RWA Wealth Partners LLC grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 65.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,505 shares of the manufacturing equipment provider’s stock after buying an additional 6,937 shares during the quarter. RWA Wealth Partners LLC’s holdings in Applied Materials were worth $2,837,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Kaizen Financial Strategies lifted its position in shares of Applied Materials by 2.0% during the 4th quarter. Kaizen Financial Strategies now owns 3,733 shares of the manufacturing equipment provider’s stock worth $605,000 after buying an additional 72 shares in the last quarter. Redwood Financial Network Corp increased its stake in shares of Applied Materials by 4.6% during the 3rd quarter. Redwood Financial Network Corp now owns 1,721 shares of the manufacturing equipment provider’s stock worth $238,000 after purchasing an additional 75 shares during the last quarter. Verdence Capital Advisors LLC increased its stake in shares of Applied Materials by 2.7% during the 4th quarter. Verdence Capital Advisors LLC now owns 2,894 shares of the manufacturing equipment provider’s stock worth $469,000 after purchasing an additional 75 shares during the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of Applied Materials by 1.8% during the 3rd quarter. Kingswood Wealth Advisors LLC now owns 4,343 shares of the manufacturing equipment provider’s stock worth $601,000 after purchasing an additional 76 shares during the last quarter. Finally, Glenview Trust co increased its stake in shares of Applied Materials by 0.3% during the 3rd quarter. Glenview Trust co now owns 28,027 shares of the manufacturing equipment provider’s stock worth $3,880,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 2.0 %

Shares of NASDAQ:AMAT opened at $193.24 on Wednesday. Applied Materials, Inc. has a one year low of $109.15 and a one year high of $214.91. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.71 and a quick ratio of 1.91. The company has a market cap of $160.56 billion, a price-to-earnings ratio of 22.73, a PEG ratio of 2.84 and a beta of 1.59. The firm has a fifty day moving average price of $202.94 and a two-hundred day moving average price of $170.76.

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

Applied Materials Increases Dividend

The firm 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 of this dividend is Wednesday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.83%. Applied Materials’s payout ratio is currently 15.06%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Bank Of America (Bofa) raised their price target on shares of Applied Materials from $170.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, January 18th. Cantor Fitzgerald upgraded shares of Applied Materials from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $220.00 to $260.00 in a research note on Monday, April 8th. Needham & Company LLC raised 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. Raymond James lifted their price objective on shares of Applied Materials from $180.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, February 16th. Finally, Mizuho lifted their price objective on shares of Applied Materials from $185.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $201.50.

Applied Materials Company 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.