Oak Harvest Investment Services Has $3.93 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Oak Harvest Investment Services raised its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,471 shares of the manufacturing equipment provider’s stock after purchasing an additional 605 shares during the period. Oak Harvest Investment Services’ holdings in Applied Materials were worth $3,934,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Applied Materials in the second quarter valued at about $26,000. Fairfield Financial Advisors LTD bought a new stake in shares of Applied Materials during the 2nd quarter valued at approximately $28,000. Clean Yield Group acquired a new position in Applied Materials during the 3rd quarter worth approximately $33,000. First PREMIER Bank boosted its position in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC bought a new stake in shares of Applied Materials during the first quarter worth $35,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AMAT. B. Riley cut their price target on Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, August 16th. Susquehanna decreased their price target on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating for the company in a research report on Friday, October 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Tuesday, October 8th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Finally, StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a research note on Saturday, September 14th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $229.14.

Applied Materials Stock Performance

Shares of AMAT opened at $185.30 on Thursday. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09. The stock’s fifty day moving average price is $192.41 and its two-hundred day moving average price is $207.92. The firm has a market cap of $153.42 billion, a PE ratio of 21.30, a PEG ratio of 2.66 and a beta of 1.54.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 EPS for the quarter, beating the consensus estimate of $2.02 by $0.10. The business had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.90 earnings per share. On average, equities research analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders 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 0.86%. Applied Materials’s dividend payout ratio is currently 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.