3,268 Shares in Applied Materials, Inc. (NASDAQ:AMAT) Acquired by InTrack Investment Management Inc

InTrack Investment Management Inc purchased a new stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,268 shares of the manufacturing equipment provider’s stock, valued at approximately $567,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Clean Yield Group acquired a new stake in shares of Applied Materials during the third quarter worth about $33,000. First PREMIER Bank raised its position in Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after buying an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in Applied Materials during the 3rd quarter valued at approximately $37,000. DT Investment Partners LLC boosted its holdings in shares of Applied Materials by 592.9% in the 3rd 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 during the last quarter. Finally, Dunhill Financial LLC increased its stake in shares of Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 3.0 %

Shares of AMAT opened at $192.05 on Friday. Applied Materials, Inc. has a one year low of $156.78 and a one year high of $255.89. The stock has a market capitalization of $156.27 billion, a price-to-earnings ratio of 22.31, a PEG ratio of 1.75 and a beta of 1.53. The stock has a 50 day moving average price of $173.10 and a 200 day moving average price of $191.61. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (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 business had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. During the same period in the prior year, the business earned $2.12 earnings per share. The business’s revenue was up 4.8% compared to the same quarter last year. Equities research analysts forecast that Applied Materials, Inc. will post 9.37 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, March 13th. Investors 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 0.83%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AMAT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. The Goldman Sachs Group lowered their target price 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. Bank of America reduced their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Barclays lowered their price objective on Applied Materials from $225.00 to $200.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, Evercore ISI decreased their target price on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and an average target price of $217.41.

Applied Materials 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.