Arkadios Wealth Advisors Acquires 916 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

by · The Markets Daily

Arkadios Wealth Advisors grew its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT – Free Report) by 11.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,045 shares of the manufacturing equipment provider’s stock after acquiring an additional 916 shares during the period. Arkadios Wealth Advisors’ holdings in Applied Materials were worth $1,828,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AMAT. Wealthcare Advisory Partners LLC increased its position in shares of Applied Materials by 6.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 3,908 shares of the manufacturing equipment provider’s stock valued at $806,000 after buying an additional 250 shares during the period. Independence Bank of Kentucky increased its holdings in Applied Materials by 75.0% during the 1st quarter. Independence Bank of Kentucky now owns 700 shares of the manufacturing equipment provider’s stock worth $144,000 after acquiring an additional 300 shares during the period. Cornerstone Wealth Group LLC purchased a new stake in Applied Materials in the 1st quarter worth approximately $320,000. Breakwater Capital Group boosted its holdings in Applied Materials by 4.3% in the 1st quarter. Breakwater Capital Group now owns 1,445 shares of the manufacturing equipment provider’s stock valued at $298,000 after purchasing an additional 60 shares during the period. Finally, LVW Advisors LLC grew its position in shares of Applied Materials by 18.1% during the 1st quarter. LVW Advisors LLC now owns 3,674 shares of the manufacturing equipment provider’s stock valued at $758,000 after purchasing an additional 563 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $186.52 on Friday. The firm has a market cap of $154.43 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. The company’s fifty day simple moving average is $193.72 and its two-hundred day simple moving average is $208.41. The company has a quick ratio of 2.09, a current ratio of 2.86 and a debt-to-equity ratio of 0.33. Applied Materials, Inc. has a 12-month low of $129.21 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT – Get Free Report) last announced its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The company had revenue of $6.78 billion for the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. Applied Materials’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.90 EPS. As a group, equities analysts expect 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. Stockholders of record on Thursday, November 21st will be given a $0.40 dividend. 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 is 18.39%.

Analysts Set New Price Targets

AMAT has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research report on Friday, August 16th. Needham & Company LLC reiterated a “buy” rating and set a $260.00 price target on shares of Applied Materials in a research report on Friday, August 16th. Wells Fargo & Company decreased their price objective on shares of Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Tuesday, October 8th. Finally, B. Riley lowered their price objective on shares of Applied Materials from $300.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, August 16th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $229.14.

View Our Latest Analysis on Applied Materials

Applied Materials Company 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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