Aberdeen Wealth Management LLC Has $2.42 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Aberdeen Wealth Management LLC lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,995 shares of the manufacturing equipment provider’s stock after selling 197 shares during the period. Applied Materials accounts for 1.6% of Aberdeen Wealth Management LLC’s portfolio, making the stock its 13th largest holding. Aberdeen Wealth Management LLC’s holdings in Applied Materials were worth $2,424,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC acquired a new position in Applied Materials in the 2nd quarter valued at $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials during the second quarter valued at about $28,000. Clean Yield Group acquired a new stake in shares of Applied Materials in the third quarter valued at about $33,000. First PREMIER Bank increased its stake in shares of Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. Finally, PSI Advisors LLC lifted its position in shares of Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock worth $37,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 1.1 %

NASDAQ:AMAT opened at $170.73 on Tuesday. The company has a market cap of $140.75 billion, a price-to-earnings ratio of 19.83, a P/E/G ratio of 2.07 and a beta of 1.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The stock’s fifty day moving average price is $190.75 and its two-hundred day moving average price is $206.68. Applied Materials, Inc. has a 52-week low of $144.57 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.19 by $0.13. The business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 earnings per share. On average, analysts anticipate that Applied Materials, Inc. will post 9.52 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is 18.58%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Needham & Company LLC lowered their price target on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus dropped their price target on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Mizuho decreased their price objective on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a report on Friday, September 20th. Bank of America dropped their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a report on Friday. Finally, Citigroup decreased their price target on Applied Materials from $240.00 to $217.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.81.

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.