Purus Wealth Management LLC Has $577,000 Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Purus Wealth Management LLC increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,549 shares of the manufacturing equipment provider’s stock after acquiring an additional 88 shares during the period. Purus Wealth Management LLC’s holdings in Applied Materials were worth $577,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. UMB Bank n.a. increased its holdings in shares of Applied Materials by 288.8% in the fourth quarter. UMB Bank n.a. now owns 36,516 shares of the manufacturing equipment provider’s stock valued at $5,939,000 after purchasing an additional 27,123 shares in the last quarter. Wealth Management Partners LLC boosted its position in Applied Materials by 3.7% in the 4th quarter. Wealth Management Partners LLC now owns 10,086 shares of the manufacturing equipment provider’s stock valued at $1,640,000 after buying an additional 359 shares during the last quarter. Diversify Advisory Services LLC increased its stake in shares of Applied Materials by 47.4% in the 4th quarter. Diversify Advisory Services LLC now owns 9,910 shares of the manufacturing equipment provider’s stock valued at $1,701,000 after buying an additional 3,189 shares during the period. Diversify Wealth Management LLC increased its position in Applied Materials by 21.1% in the fourth quarter. Diversify Wealth Management LLC now owns 4,617 shares of the manufacturing equipment provider’s stock worth $793,000 after purchasing an additional 804 shares during the period. Finally, City Holding Co. bought a new stake in Applied Materials during the 4th quarter worth about $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMAT. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price for the company in a report on Friday. Evercore ISI dropped their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Mizuho reduced their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Finally, Bank of America dropped their price objective on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.95.

Applied Materials Stock Up 3.0 %

AMAT stock opened at $192.05 on Monday. The business has a 50-day moving average of $173.10 and a 200-day moving average of $190.95. Applied Materials, Inc. has a fifty-two week low of $156.78 and a fifty-two week high of $255.89. The stock has a market capitalization of $156.27 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.75 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

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 firm had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter in the prior year, the firm posted $2.12 EPS. The business’s revenue was up 4.8% on a year-over-year basis. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.37 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.

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.