Carmel Capital Partners LLC Purchases 4,924 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Carmel Capital Partners LLC raised its position in Applied Materials, Inc. (NASDAQ:AMAT) by 82.6% during the fourth quarter, Holdings Channel reports. The fund owned 10,882 shares of the manufacturing equipment provider’s stock after acquiring an additional 4,924 shares during the period. Applied Materials comprises approximately 0.7% of Carmel Capital Partners LLC’s investment portfolio, making the stock its 27th biggest position. Carmel Capital Partners LLC’s holdings in Applied Materials were worth $1,770,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of AMAT. Swedbank AB lifted its holdings in Applied Materials by 2.6% in the third quarter. Swedbank AB now owns 4,244,566 shares of the manufacturing equipment provider’s stock valued at $857,615,000 after acquiring an additional 108,827 shares during the period. Moloney Securities Asset Management LLC raised its stake in shares of Applied Materials by 11.5% in the third quarter. Moloney Securities Asset Management LLC now owns 6,969 shares of the manufacturing equipment provider’s stock worth $1,408,000 after buying an additional 720 shares during the period. United Advisor Group LLC raised its stake in shares of Applied Materials by 47.6% in the third quarter. United Advisor Group LLC now owns 2,501 shares of the manufacturing equipment provider’s stock worth $505,000 after buying an additional 807 shares during the period. Crescent Grove Advisors LLC bought a new position in shares of Applied Materials in the third quarter worth about $326,000. Finally, Avidian Wealth Enterprises LLC raised its stake in shares of Applied Materials by 7.2% in the third quarter. Avidian Wealth Enterprises LLC now owns 1,942 shares of the manufacturing equipment provider’s stock worth $392,000 after buying an additional 130 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ AMAT opened at $155.32 on Thursday. The stock has a market capitalization of $126.19 billion, a PE ratio of 20.30, a P/E/G ratio of 1.81 and a beta of 1.53. The business has a 50 day simple moving average of $174.50 and a two-hundred day simple moving average of $181.78. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. Applied Materials, Inc. has a 1-year low of $149.55 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. On average, research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 20.92%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on AMAT. The Goldman Sachs Group decreased their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Susquehanna raised their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a research note on Friday, January 17th. Bank of America decreased their price objective on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Barclays decreased their price objective on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is owned by corporate insiders.

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.