Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 9,160 shares of the manufacturing equipment provider’s stock after selling 109 shares during the period. Argus Investors Counsel Inc.’s holdings in Applied Materials were worth $1,851,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Vicus Capital acquired a new stake in shares of Applied Materials during the third quarter worth $290,000. Harbor Advisory Corp MA acquired a new stake in shares of Applied Materials during the third quarter worth $232,000. Home Federal Bank of Tennessee boosted its holdings in shares of Applied Materials by 16.3% during the third quarter. Home Federal Bank of Tennessee now owns 1,425 shares of the manufacturing equipment provider’s stock worth $288,000 after purchasing an additional 200 shares during the last quarter. Oakworth Capital Inc. boosted its holdings in shares of Applied Materials by 7.6% during the third quarter. Oakworth Capital Inc. now owns 2,998 shares of the manufacturing equipment provider’s stock worth $606,000 after purchasing an additional 212 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in Applied Materials by 11.4% in the third quarter. Foundations Investment Advisors LLC now owns 5,771 shares of the manufacturing equipment provider’s stock valued at $1,166,000 after acquiring an additional 589 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Down 0.2 %

Shares of NASDAQ AMAT traded down $0.30 during midday trading on Tuesday, reaching $184.16. 2,076,667 shares of the company’s stock were exchanged, compared to its average volume of 6,075,168. Applied Materials, Inc. has a 52-week low of $129.21 and a 52-week high of $255.89. The stock has a market capitalization of $152.48 billion, a PE ratio of 21.16, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. 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 business’s fifty day moving average price is $195.44 and its two-hundred day moving average price is $209.11.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. Applied Materials’s quarterly revenue was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.90 earnings per share. Analysts forecast that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Dividend Announcement

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. This represents a $1.60 annualized dividend and a yield of 0.87%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio is currently 18.39%.

Analysts Set New Price Targets

AMAT has been the topic of a number of research analyst reports. Dbs Bank cut Applied Materials from a “strong-buy” rating to a “hold” rating in a report on Monday, September 16th. StockNews.com cut Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Morgan Stanley reduced their target price on Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 17th. Wells Fargo & Company reduced their target price on Applied Materials from $260.00 to $235.00 and set an “overweight” rating on the stock in a report on Thursday, October 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their target price on Applied Materials from $260.00 to $230.00 and set a “hold” rating on the stock in a report on Friday, August 16th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $229.14.

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.