E&G Advisors LP Purchases 200 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

E&G Advisors LP grew its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.3% during the third quarter, HoldingsChannel reports. The institutional investor owned 6,229 shares of the manufacturing equipment provider’s stock after purchasing an additional 200 shares during the period. E&G Advisors LP’s holdings in Applied Materials were worth $1,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in AMAT. Summit Securities Group LLC purchased a new position in shares of Applied Materials during the second quarter valued at approximately $26,000. Fairfield Financial Advisors LTD bought a new stake in Applied Materials in the 2nd quarter worth approximately $28,000. Redmont Wealth Advisors LLC purchased a new stake in Applied Materials during the 1st quarter valued at $26,000. PSI Advisors LLC lifted its holdings in shares of Applied Materials by 56.0% during the 2nd quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after buying an additional 56 shares during the period. Finally, Clean Yield Group purchased a new position in shares of Applied Materials in the 3rd quarter worth $33,000. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT opened at $186.36 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.09 and a current ratio of 2.86. The stock has a market capitalization of $154.30 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.66 and a beta of 1.54. The company has a fifty day moving average of $195.61 and a 200 day moving average of $209.23. Applied Materials, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, August 15th. The manufacturing equipment provider reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.10. The firm had revenue of $6.78 billion during the quarter, compared to analyst estimates of $6.68 billion. Applied Materials had a return on equity of 39.99% and a net margin of 27.74%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.90 earnings per share. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 8.49 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $1.60 annualized dividend and a dividend yield of 0.86%. Applied Materials’s dividend payout ratio (DPR) is 18.39%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Stifel Nicolaus reduced their price objective on Applied Materials from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, August 16th. JPMorgan Chase & Co. upped their price target on shares of Applied Materials from $240.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday, August 16th. Needham & Company LLC reissued a “buy” rating and issued a $260.00 price objective on shares of Applied Materials in a report on Friday, August 16th. StockNews.com cut shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Finally, Dbs Bank cut shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.