Argent Capital Management LLC Has $82.61 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Argent Capital Management LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 507,990 shares of the manufacturing equipment provider’s stock after selling 8,976 shares during the quarter. Applied Materials comprises about 2.3% of Argent Capital Management LLC’s holdings, making the stock its 17th largest position. Argent Capital Management LLC’s holdings in Applied Materials were worth $82,614,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of AMAT. Clean Yield Group bought a new position in shares of Applied Materials in the third quarter valued at $33,000. First PREMIER Bank increased its stake in shares of Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in shares of Applied Materials in the third quarter worth about $37,000. DT Investment Partners LLC grew its stake in Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after acquiring an additional 166 shares in the last quarter. Finally, Dunhill Financial LLC grew its stake in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after acquiring an additional 81 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $178.32 on Thursday. The firm has a market cap of $145.10 billion, a PE ratio of 20.71, a PEG ratio of 1.61 and a beta of 1.53. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 1-year low of $149.84 and a 1-year high of $255.89. The company has a fifty day moving average price of $173.43 and a 200 day moving average price of $191.74.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same period in the prior year, the firm earned $2.12 EPS. The business’s revenue was up 4.8% on a year-over-year basis. Research analysts predict that Applied Materials, Inc. will post 9.48 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 $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.90%. Applied Materials’s dividend payout ratio is currently 18.58%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Mizuho lowered their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Susquehanna reduced their target price on shares of Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. The Goldman Sachs Group dropped their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC lowered their target price on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Evercore ISI reduced their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $218.24.

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.