Wellington Wealth Strategies LLC. Makes New Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Wellington Wealth Strategies LLC. bought a new stake in Applied Materials, Inc. (NASDAQ:AMAT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,622 shares of the manufacturing equipment provider’s stock, valued at approximately $855,000. Applied Materials accounts for 3.7% of Wellington Wealth Strategies LLC.’s investment portfolio, making the stock its 3rd biggest holding.

A number of other institutional investors and hedge funds have also modified their holdings of AMAT. Precision Wealth Strategies LLC grew its holdings in shares of Applied Materials by 8.5% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,097 shares of the manufacturing equipment provider’s stock worth $502,000 after buying an additional 242 shares in the last quarter. Gilbert & Cook Inc. lifted its stake in Applied Materials by 11.1% in the 4th quarter. Gilbert & Cook Inc. now owns 4,182 shares of the manufacturing equipment provider’s stock worth $678,000 after purchasing an additional 418 shares in the last quarter. Gryphon Financial Partners LLC grew its position in shares of Applied Materials by 5.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,609 shares of the manufacturing equipment provider’s stock valued at $249,000 after purchasing an additional 84 shares in the last quarter. Evoke Wealth LLC acquired a new stake in shares of Applied Materials in the fourth quarter valued at approximately $233,000. Finally, Scotia Capital Inc. lifted its position in Applied Materials by 0.6% during the fourth quarter. Scotia Capital Inc. now owns 14,247 shares of the manufacturing equipment provider’s stock worth $2,309,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT opened at $204.92 on Monday. The stock has a 50-day simple moving average of $195.62 and a 200-day simple moving average of $210.01. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The stock has a market capitalization of $169.67 billion, a PE ratio of 23.55, a PEG ratio of 2.30 and a beta of 1.55.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. Applied Materials had a net margin of 27.74% and a return on equity of 39.99%. The business had revenue of $6.78 billion for the quarter, compared to analyst estimates of $6.68 billion. During the same period in the previous year, the business posted $1.90 earnings per share. The business’s revenue was up 5.5% compared to the same quarter last year. On average, analysts predict that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Thursday, November 21st will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.78%. The ex-dividend date of this dividend is Thursday, November 21st. Applied Materials’s payout ratio is 18.39%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Mizuho dropped their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, September 20th. StockNews.com cut shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, September 14th. Wells Fargo & Company boosted their target price on shares of Applied Materials from $255.00 to $280.00 and gave the company an “overweight” rating in a report on Monday, June 17th. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a 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 MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target of $231.05.

Applied Materials Profile

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.