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

Kolinsky Wealth Management LLC reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 7.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,538 shares of the manufacturing equipment provider’s stock after selling 210 shares during the period. Kolinsky Wealth Management LLC’s holdings in Applied Materials were worth $513,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AMAT. Summit Securities Group LLC purchased a new stake in shares of Applied Materials during the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD acquired a new position in Applied Materials during the 2nd quarter valued at about $28,000. PSI Advisors LLC raised its stake 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 buying an additional 56 shares during the last quarter. Clean Yield Group acquired a new stake in Applied Materials in the third quarter worth about $33,000. Finally, First PREMIER Bank grew its stake in shares of Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 2.0 %

Shares of Applied Materials stock opened at $174.71 on Friday. The firm has a 50-day simple moving average of $188.11 and a two-hundred day simple moving average of $204.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. Applied Materials, Inc. has a fifty-two week low of $144.57 and a fifty-two week high of $255.89. The company has a market cap of $144.03 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.61 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the prior year, the firm posted $2.12 EPS. Applied Materials’s quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts predict that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is presently 18.58%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on AMAT shares. Citigroup lowered their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research note on Monday, September 16th. UBS Group lowered their price objective on shares of Applied Materials from $220.00 to $210.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. Morgan Stanley cut their target price on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. Finally, Evercore ISI dropped their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $221.48.

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.