Kingsview Wealth Management LLC Has $2.49 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Kingsview Wealth Management LLC raised its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,309 shares of the manufacturing equipment provider’s stock after purchasing an additional 318 shares during the period. Kingsview Wealth Management LLC’s holdings in Applied Materials were worth $2,490,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of AMAT. Byrne Asset Management LLC lifted its position in Applied Materials by 1.1% during the fourth quarter. Byrne Asset Management LLC now owns 8,883 shares of the manufacturing equipment provider’s stock worth $1,445,000 after acquiring an additional 100 shares during the last quarter. Opinicus Capital Inc. increased its stake in shares of Applied Materials by 2.5% during the fourth quarter. Opinicus Capital Inc. now owns 7,715 shares of the manufacturing equipment provider’s stock worth $1,255,000 after purchasing an additional 187 shares during the period. Unison Asset Management LLC lifted its holdings in Applied Materials by 2.6% during the 4th quarter. Unison Asset Management LLC now owns 31,151 shares of the manufacturing equipment provider’s stock worth $5,066,000 after purchasing an additional 790 shares during the last quarter. Mezzasalma Advisors LLC boosted its stake in Applied Materials by 3.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock valued at $335,000 after purchasing an additional 60 shares during the period. Finally, Vest Financial LLC increased its position in Applied Materials by 41.1% during the 4th quarter. Vest Financial LLC now owns 209,771 shares of the manufacturing equipment provider’s stock worth $34,115,000 after buying an additional 61,122 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Ratings Changes

AMAT has been the subject of a number of recent research reports. Barclays reduced their target price on shares of Applied Materials from $225.00 to $200.00 and set an “equal weight” rating for the company in a research report on Friday, January 17th. Susquehanna increased their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. TD Cowen dropped their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Bank of America reduced their price target 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. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

Applied Materials Stock Down 1.5 %

Shares of NASDAQ AMAT opened at $180.00 on Monday. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The firm has a market cap of $146.29 billion, a PE ratio of 20.91, a price-to-earnings-growth ratio of 1.86 and a beta of 1.53. The company has a 50 day simple moving average of $175.19 and a 200 day simple moving average of $185.32.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.12 earnings per share. On average, research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.

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.