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

Argus Investors Counsel Inc. cut its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,160 shares of the manufacturing equipment provider’s stock after selling 109 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Applied Materials were worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of AMAT. Swedbank AB acquired a new stake in shares of Applied Materials in the first quarter valued at $773,611,000. Janus Henderson Group PLC lifted its holdings in Applied Materials by 126.4% during the 1st quarter. Janus Henderson Group PLC now owns 2,254,952 shares of the manufacturing equipment provider’s stock worth $464,974,000 after buying an additional 1,259,111 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Applied Materials by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 75,008,622 shares of the manufacturing equipment provider’s stock worth $15,469,028,000 after buying an additional 891,446 shares during the last quarter. EdgePoint Investment Group Inc. purchased a new stake in Applied Materials during the 1st quarter worth about $162,873,000. Finally, Van ECK Associates Corp lifted its holdings in Applied Materials by 20.4% during the 1st quarter. Van ECK Associates Corp now owns 4,623,048 shares of the manufacturing equipment provider’s stock worth $953,411,000 after buying an additional 784,780 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AMAT shares. Mizuho decreased their price target on Applied Materials from $245.00 to $225.00 and set an “outperform” rating for the company in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft decreased their price target on Applied Materials from $260.00 to $230.00 and set a “hold” rating for the company in a report on Friday, August 16th. Citigroup reduced their target price on Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a report on Monday, September 16th. B. Riley reduced their target price on Applied Materials from $300.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 16th. Finally, StockNews.com downgraded Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $229.14.

Applied Materials Stock Performance

Shares of AMAT stock traded down $0.30 during trading hours 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. The company has a market cap of $152.48 billion, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 2.66 and a beta of 1.54. The company’s 50 day moving average is $195.44 and its two-hundred day moving average is $209.11. Applied Materials, Inc. has a 1 year low of $129.21 and a 1 year high of $255.89. 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 issued its earnings results on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.10. The business had revenue of $6.78 billion during the quarter, compared to the consensus estimate of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.90 EPS. Equities research analysts anticipate that Applied Materials, Inc. will post 8.49 EPS for the current fiscal 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 paid 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 payout ratio is currently 18.39%.

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.