Allen Mooney & Barnes Investment Advisors LLC Has $4.63 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Allen Mooney & Barnes Investment Advisors LLC grew its position in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 4.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,550 shares of the manufacturing equipment provider’s stock after buying an additional 1,238 shares during the quarter. Allen Mooney & Barnes Investment Advisors LLC’s holdings in Applied Materials were worth $4,627,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Clarus Wealth Advisors acquired a new position in Applied Materials during the 4th quarter worth approximately $222,000. Claro Advisors LLC increased its position in Applied Materials by 3.5% during the 4th quarter. Claro Advisors LLC now owns 6,072 shares of the manufacturing equipment provider’s stock worth $984,000 after purchasing an additional 208 shares in the last quarter. Miracle Mile Advisors LLC increased its position in Applied Materials by 316.5% during the 4th quarter. Miracle Mile Advisors LLC now owns 8,309 shares of the manufacturing equipment provider’s stock worth $1,347,000 after purchasing an additional 6,314 shares in the last quarter. Kowal Investment Group LLC increased its position in Applied Materials by 21.0% during the 4th quarter. Kowal Investment Group LLC now owns 2,864 shares of the manufacturing equipment provider’s stock worth $464,000 after purchasing an additional 498 shares in the last quarter. Finally, AdvisorNet Financial Inc increased its position in Applied Materials by 5.7% during the 4th quarter. AdvisorNet Financial Inc now owns 2,873 shares of the manufacturing equipment provider’s stock worth $466,000 after purchasing an additional 156 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Up 1.2 %

Shares of NASDAQ AMAT opened at $208.69 on Tuesday. The firm has a market cap of $173.40 billion, a PE ratio of 24.55, a P/E/G ratio of 3.12 and a beta of 1.59. Applied Materials, Inc. has a 12-month low of $109.00 and a 12-month high of $214.91. The company’s fifty day simple moving average is $192.04 and its 200 day simple moving average is $162.88. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31.

Applied Materials (NASDAQ:AMATGet Free Report) last released its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The firm had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $6.48 billion. During the same quarter in the prior year, the company posted $2.03 earnings per share. The business’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 8.03 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.40 per share. This is an increase 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 yield of 0.77%. Applied Materials’s dividend payout ratio is presently 15.06%.

Analyst Ratings Changes

Several brokerages have issued reports on AMAT. The Goldman Sachs Group upped their price target on shares of Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Stifel Nicolaus upped their price target on shares of Applied Materials from $175.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Susquehanna upped their price target on shares of Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a research report on Friday, February 16th. Raymond James upped their price target on shares of Applied Materials from $180.00 to $225.00 and gave the company an “outperform” rating in a research report on Friday, February 16th. Finally, Mizuho upped their price target on shares of Applied Materials from $185.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have given a buy rating to the company. According to MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and an average price target of $191.83.

Get Our Latest Report on Applied Materials

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.

Further Reading

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

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