McGlone Suttner Wealth Management Inc. Raises Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

McGlone Suttner Wealth Management Inc. lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 83.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,702 shares of the manufacturing equipment provider’s stock after purchasing an additional 3,513 shares during the quarter. McGlone Suttner Wealth Management Inc.’s holdings in Applied Materials were worth $1,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Greater Midwest Financial Group LLC grew its holdings in shares of Applied Materials by 14.4% in the fourth quarter. Greater Midwest Financial Group LLC now owns 17,161 shares of the manufacturing equipment provider’s stock worth $2,791,000 after acquiring an additional 2,165 shares during the period. Cornerstone Wealth Management LLC grew its stake in shares of Applied Materials by 16.9% during the 4th quarter. Cornerstone Wealth Management LLC now owns 3,631 shares of the manufacturing equipment provider’s stock valued at $591,000 after purchasing an additional 526 shares during the period. Brighton Jones LLC increased its position in shares of Applied Materials by 28.0% during the 4th quarter. Brighton Jones LLC now owns 12,674 shares of the manufacturing equipment provider’s stock valued at $2,061,000 after purchasing an additional 2,771 shares during the last quarter. New Century Financial Group LLC bought a new position in shares of Applied Materials in the 4th quarter worth approximately $271,000. Finally, Key Client Fiduciary Advisors LLC boosted its holdings in shares of Applied Materials by 6.4% in the fourth quarter. Key Client Fiduciary Advisors LLC now owns 2,757 shares of the manufacturing equipment provider’s stock worth $448,000 after buying an additional 165 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Down 2.5 %

Shares of AMAT opened at $190.70 on Friday. The firm has a market capitalization of $155.17 billion, a P/E ratio of 22.15, a P/E/G ratio of 1.97 and a beta of 1.53. Applied Materials, Inc. has a 12-month low of $158.96 and a 12-month high of $255.89. The firm has a fifty day moving average price of $173.55 and a 200-day moving average price of $189.91. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.12 earnings per share. Equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is 18.58%.

Analysts Set New Price Targets

Several research firms have weighed in on AMAT. Sanford C. Bernstein decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Susquehanna raised their target price on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday. Evercore ISI cut their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Mizuho decreased their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Finally, Bank of America lowered their price objective on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus price target of $218.71.

Applied Materials Company 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.