Kirtland Hills Capital Management LLC Has $465,000 Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Kirtland Hills Capital Management LLC lifted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 44.7% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,300 shares of the manufacturing equipment provider’s stock after purchasing an additional 710 shares during the period. Kirtland Hills Capital Management LLC’s holdings in Applied Materials were worth $465,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bessemer Group Inc. raised its stake in Applied Materials by 57.4% during the first quarter. Bessemer Group Inc. now owns 46,272 shares of the manufacturing equipment provider’s stock worth $9,542,000 after buying an additional 16,871 shares during the last quarter. InterOcean Capital Group LLC lifted its stake in shares of Applied Materials by 10.3% in the 1st quarter. InterOcean Capital Group LLC now owns 3,643 shares of the manufacturing equipment provider’s stock valued at $751,000 after purchasing an additional 340 shares during the period. Freestone Capital Holdings LLC boosted its position in shares of Applied Materials by 2.0% during the 1st quarter. Freestone Capital Holdings LLC now owns 43,640 shares of the manufacturing equipment provider’s stock valued at $9,000,000 after purchasing an additional 870 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Applied Materials by 4.9% during the first quarter. EP Wealth Advisors LLC now owns 50,268 shares of the manufacturing equipment provider’s stock worth $10,367,000 after purchasing an additional 2,366 shares during the period. Finally, Axxcess Wealth Management LLC increased its holdings in Applied Materials by 9.3% in the first quarter. Axxcess Wealth Management LLC now owns 19,104 shares of the manufacturing equipment provider’s stock worth $3,940,000 after purchasing an additional 1,628 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $169.31 on Wednesday. Applied Materials, Inc. has a fifty-two week low of $144.57 and a fifty-two week high of $255.89. The company’s 50-day moving average is $190.57 and its 200 day moving average is $206.44. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The company has a market capitalization of $139.58 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 2.07 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same quarter last year, the business posted $2.12 EPS. Applied Materials’s quarterly revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts forecast that Applied Materials, Inc. will post 9.52 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

AMAT has been the subject of several recent analyst reports. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 16th. Bank of America decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Morgan Stanley cut their price objective on shares of Applied Materials from $185.00 to $179.00 and set an “equal weight” rating on the stock in a research report on Friday, November 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. Finally, Evercore ISI reduced their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note 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. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average price target of $219.81.

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.