Kolinsky Wealth Management LLC Lowers Position in Applied Materials, Inc. (NASDAQ:AMAT)

Kolinsky Wealth Management LLC trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,538 shares of the manufacturing equipment provider’s stock after selling 210 shares during the period. Kolinsky Wealth Management LLC’s holdings in Applied Materials were worth $513,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in Applied Materials by 29.8% during the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after acquiring an additional 1,509,439 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Applied Materials by 262.5% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,390,501 shares of the manufacturing equipment provider’s stock worth $280,951,000 after purchasing an additional 1,006,937 shares in the last quarter. Alkeon Capital Management LLC grew its stake in shares of Applied Materials by 87.7% in the 3rd quarter. Alkeon Capital Management LLC now owns 1,877,133 shares of the manufacturing equipment provider’s stock worth $379,275,000 after buying an additional 877,133 shares during the last quarter. FMR LLC increased its position in Applied Materials by 5.5% during the 3rd quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock valued at $3,316,269,000 after buying an additional 858,122 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Applied Materials by 62.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock worth $343,138,000 after buying an additional 653,739 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 2.0 %

Shares of AMAT opened at $174.71 on Friday. The company has a market cap of $144.03 billion, a PE ratio of 20.29, a P/E/G ratio of 1.61 and a beta of 1.56. Applied Materials, Inc. has a 52-week low of $144.57 and a 52-week high of $255.89. The business has a fifty day moving average of $188.11 and a 200 day moving average of $204.54. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.12 EPS. On average, sell-side analysts expect that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be issued a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on AMAT shares. Stifel Nicolaus reduced 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 note on Tuesday, November 12th. Needham & Company LLC cut their target price on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, November 15th. StockNews.com lowered Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Evercore ISI reduced their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Finally, TD Cowen decreased their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $221.48.

About Applied Materials

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.