Pinnacle Financial Partners Inc Purchases 558 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Pinnacle Financial Partners Inc increased its position in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 35.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,141 shares of the manufacturing equipment provider’s stock after buying an additional 558 shares during the period. Pinnacle Financial Partners Inc’s holdings in Applied Materials were worth $347,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of AMAT. Parsons Capital Management Inc. RI lifted its position in shares of Applied Materials by 122.5% in the fourth quarter. Parsons Capital Management Inc. RI now owns 3,805 shares of the manufacturing equipment provider’s stock valued at $617,000 after buying an additional 2,095 shares during the last quarter. Osborne Partners Capital Management LLC acquired a new stake in shares of Applied Materials in the fourth quarter valued at approximately $289,000. Retirement Guys Formula LLC lifted its position in shares of Applied Materials by 13.5% in the fourth quarter. Retirement Guys Formula LLC now owns 6,809 shares of the manufacturing equipment provider’s stock valued at $1,104,000 after buying an additional 808 shares during the last quarter. Veracity Capital LLC lifted its position in shares of Applied Materials by 4.4% in the fourth quarter. Veracity Capital LLC now owns 2,379 shares of the manufacturing equipment provider’s stock valued at $386,000 after buying an additional 101 shares during the last quarter. Finally, Spinnaker Investment Group LLC lifted its position in shares of Applied Materials by 10.0% in the fourth quarter. Spinnaker Investment Group LLC now owns 2,242 shares of the manufacturing equipment provider’s stock valued at $363,000 after buying an additional 203 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Trading Up 0.6 %

Shares of AMAT opened at $207.38 on Thursday. Applied Materials, Inc. has a 52-week low of $109.00 and a 52-week high of $214.91. The business’s fifty day moving average is $193.63 and its 200-day moving average is $163.81. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71. The firm has a market cap of $172.31 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 3.16 and a beta of 1.59.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its quarterly earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The company had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.48 billion. During the same quarter last year, the company posted $2.03 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts anticipate that Applied Materials, Inc. will post 8.03 EPS for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a $0.40 dividend. This is a positive change from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a dividend yield of 0.77%. Applied Materials’s dividend payout ratio (DPR) is presently 15.06%.

Wall Street Analyst Weigh In

AMAT has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Bank Of America (Bofa) raised their price objective on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Citigroup lifted their price target on Applied Materials from $170.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Stifel Nicolaus lifted their price target on Applied Materials from $175.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Finally, Susquehanna lifted their price target on Applied Materials from $138.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $191.83.

Check Out Our Latest Research Report on AMAT

About Applied Materials

(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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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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