Patton Fund Management Inc. Has $4.78 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Patton Fund Management Inc. lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,654 shares of the manufacturing equipment provider’s stock after selling 1,287 shares during the quarter. Patton Fund Management Inc.’s holdings in Applied Materials were worth $4,779,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First National Bank of Mount Dora Trust Investment Services acquired a new position in Applied Materials in the 1st quarter valued at approximately $1,764,000. GAMMA Investing LLC increased its stake in Applied Materials by 89.3% in the 2nd quarter. GAMMA Investing LLC now owns 8,988 shares of the manufacturing equipment provider’s stock valued at $2,121,000 after buying an additional 4,239 shares during the period. Sivia Capital Partners LLC increased its stake in Applied Materials by 5.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 2,338 shares of the manufacturing equipment provider’s stock valued at $552,000 after buying an additional 126 shares during the period. International Assets Investment Management LLC increased its stake in Applied Materials by 5.4% in the 1st quarter. International Assets Investment Management LLC now owns 3,350 shares of the manufacturing equipment provider’s stock valued at $699,000 after buying an additional 172 shares during the period. Finally, Calton & Associates Inc. acquired a new position in Applied Materials in the 1st quarter valued at approximately $243,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded up $2.62 during trading hours on Thursday, reaching $187.21. The stock had a trading volume of 2,879,297 shares, compared to its average volume of 6,068,327. The company has a market cap of $155.01 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.66 and a beta of 1.54. Applied Materials, Inc. has a twelve month low of $129.21 and a twelve month high of $255.89. The business’s fifty day moving average is $195.86 and its two-hundred day moving average is $209.55. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.86 and a quick ratio of 2.09.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.78 billion during the quarter, compared to analysts’ expectations of $6.68 billion. During the same quarter in the prior year, the company posted $1.90 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, research analysts expect that Applied Materials, Inc. will post 8.49 EPS for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a $0.40 dividend. The ex-dividend date is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.85%. Applied Materials’s dividend payout ratio is currently 18.39%.

Wall Street Analysts Forecast Growth

AMAT has been the subject of several recent research reports. Citigroup decreased their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Morgan Stanley lowered their target price on shares of Applied Materials from $224.00 to $185.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 17th. JPMorgan Chase & Co. raised their target price on Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a report on Friday, August 16th. Needham & Company LLC restated a “buy” rating and set a $260.00 target price on shares of Applied Materials in a report on Friday, August 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Tuesday, October 8th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.