Taylor Hoffman Wealth Management Buys 5,046 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Taylor Hoffman Wealth Management increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 20.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,236 shares of the manufacturing equipment provider’s stock after purchasing an additional 5,046 shares during the quarter. Applied Materials makes up approximately 1.1% of Taylor Hoffman Wealth Management’s portfolio, making the stock its 29th biggest holding. Taylor Hoffman Wealth Management’s holdings in Applied Materials were worth $1,509,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Buckingham Capital Management Inc. raised its stake in Applied Materials by 1.9% in the 1st quarter. Buckingham Capital Management Inc. now owns 89,694 shares of the manufacturing equipment provider’s stock valued at $3,557,000 after purchasing an additional 1,667 shares during the last quarter. Fulton Bank N.A. lifted its position in Applied Materials by 4.5% in the 2nd quarter. Fulton Bank N.A. now owns 48,361 shares of the manufacturing equipment provider’s stock valued at $2,172,000 after acquiring an additional 2,083 shares in the last quarter. Swedbank lifted its position in Applied Materials by 25.7% in the 2nd quarter. Swedbank now owns 479,404 shares of the manufacturing equipment provider’s stock valued at $21,530,000 after acquiring an additional 98,088 shares in the last quarter. DNB Asset Management AS lifted its holdings in shares of Applied Materials by 266.4% during the 2nd quarter. DNB Asset Management AS now owns 399,543 shares of the manufacturing equipment provider’s stock valued at $17,943,000 after buying an additional 290,501 shares during the period. Finally, WINTON GROUP Ltd lifted its holdings in shares of Applied Materials by 106.1% during the 2nd quarter. WINTON GROUP Ltd now owns 488,410 shares of the manufacturing equipment provider’s stock valued at $21,934,000 after buying an additional 251,467 shares during the period. 79.06% of the stock is currently owned by institutional investors.

AMAT has been the topic of a number of research reports. Zacks Investment Research raised shares of Applied Materials from a “sell” rating to a “hold” rating and set a $60.00 price objective on the stock in a research note on Tuesday, October 29th. Susquehanna Bancshares set a $60.00 target price on Applied Materials and gave the company a “buy” rating in a research note on Friday, August 16th. Stifel Nicolaus set a $57.00 target price on Applied Materials and gave the company a “buy” rating in a research note on Monday, August 26th. BidaskClub upgraded Applied Materials from a “buy” rating to a “strong-buy” rating in a research note on Friday, October 4th. Finally, ValuEngine cut Applied Materials from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $53.23.

In related news, Director Stephen R. Forrest sold 3,000 shares of Applied Materials stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $46.00, for a total value of $138,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Steve G. Ghanayem sold 25,727 shares of Applied Materials stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $52.12, for a total value of $1,340,891.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,945 shares of company stock valued at $2,776,105. 0.44% of the stock is currently owned by company insiders.

Shares of NASDAQ:AMAT traded up $0.09 on Friday, reaching $56.03. 3,313,800 shares of the company traded hands, compared to its average volume of 9,191,457. The stock has a market capitalization of $51.62 billion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 3.40 and a beta of 1.66. Applied Materials, Inc. has a 52 week low of $28.79 and a 52 week high of $57.29. The company has a current ratio of 2.65, a quick ratio of 1.72 and a debt-to-equity ratio of 0.65. The business’s 50-day simple moving average is $52.53 and its 200 day simple moving average is $46.93.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.04. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.53 billion. Applied Materials had a net margin of 19.40% and a return on equity of 39.37%. The company’s revenue was down 14.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.20 EPS. Sell-side analysts expect that Applied Materials, Inc. will post 3 EPS for the current fiscal year.

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 given a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, November 20th. This represents a $0.84 annualized dividend and a yield of 1.50%. Applied Materials’s dividend payout ratio is currently 18.88%.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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