Hartford Financial Management Inc. Purchases 705 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Hartford Financial Management Inc. boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,441 shares of the manufacturing equipment provider’s stock after purchasing an additional 705 shares during the period. Applied Materials comprises 1.2% of Hartford Financial Management Inc.’s holdings, making the stock its 20th biggest holding. Hartford Financial Management Inc.’s holdings in Applied Materials were worth $5,764,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AMAT. Forum Financial Management LP raised its holdings in shares of Applied Materials by 0.6% in the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock worth $1,847,000 after buying an additional 53 shares during the period. Sargent Investment Group LLC grew its position in Applied Materials by 4.0% in the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock valued at $286,000 after acquiring an additional 55 shares during the last quarter. Biltmore Family Office LLC grew its position in Applied Materials by 5.3% in the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after acquiring an additional 55 shares during the last quarter. Field & Main Bank lifted its position in shares of Applied Materials by 1.8% during the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock worth $516,000 after purchasing an additional 55 shares during the last quarter. Finally, waypoint wealth counsel boosted its stake in shares of Applied Materials by 3.1% during the third quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider’s stock valued at $374,000 after purchasing an additional 56 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT stock opened at $181.72 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The company has a market cap of $147.86 billion, a PE ratio of 21.11, a PEG ratio of 1.99 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 business’s fifty day simple moving average is $174.24 and its 200-day simple moving average is $187.55.

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

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.88%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 18.58%.

Wall Street Analysts Forecast Growth

AMAT has been the subject of a number of research analyst reports. Needham & Company LLC decreased their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a report on Friday, November 15th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Barclays dropped their price objective on Applied Materials from $225.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Sanford C. Bernstein decreased their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Finally, TD Cowen dropped their price target on Applied Materials from $250.00 to $230.00 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. According to MarketBeat.com, Applied Materials presently has a consensus 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.