Carret Asset Management LLC Purchases 478 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

by · The Markets Daily

Carret Asset Management LLC increased its position in Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 1.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,980 shares of the manufacturing equipment provider’s stock after acquiring an additional 478 shares during the quarter. Carret Asset Management LLC’s holdings in Applied Materials were worth $7,068,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC bought a new position in Applied Materials in the 1st quarter worth $26,000. Summit Securities Group LLC bought a new position in shares of Applied Materials during the 2nd quarter worth about $26,000. Fairfield Financial Advisors LTD bought a new position in shares of Applied Materials during the 2nd quarter worth about $28,000. Clean Yield Group bought a new position in shares of Applied Materials during the 3rd quarter worth about $33,000. Finally, First PREMIER Bank increased its holdings in shares of Applied Materials by 326.3% during the 3rd 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. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $186.52 on Friday. The company has a current ratio of 2.86, a quick ratio of 2.09 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $154.43 billion, a price-to-earnings ratio of 21.44, a P/E/G ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a 1-year low of $129.21 and a 1-year high of $255.89. The firm’s 50-day moving average price is $193.72 and its two-hundred day moving average price is $208.41.

Applied Materials (NASDAQ:AMAT – Get Free Report) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, topping the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The company’s quarterly 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 analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. Applied Materials’s dividend payout ratio (DPR) is currently 18.39%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a report on Tuesday, October 8th. Susquehanna dropped their price objective on shares of Applied Materials from $215.00 to $190.00 and set a “neutral” rating on the stock in a report on Friday, October 11th. JPMorgan Chase & Co. boosted their price objective on shares of Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Friday, August 16th. Finally, Stifel Nicolaus dropped their price objective on shares of Applied Materials from $275.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average price target of $229.14.

Read Our Latest Analysis on Applied Materials

Applied Materials Profile

(Free Report)

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.

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