Destination Wealth Management Trims Holdings in Applied Materials, Inc. (AMAT)

Destination Wealth Management cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,863 shares of the manufacturing equipment provider’s stock after selling 1,100 shares during the quarter. Destination Wealth Management’s holdings in Applied Materials were worth $290,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Legacy Financial Advisors Inc. raised its holdings in shares of Applied Materials by 14.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 2,405 shares of the manufacturing equipment provider’s stock valued at $79,000 after purchasing an additional 300 shares in the last quarter. Buckingham Capital Management Inc. raised its holdings in shares of Applied Materials by 0.4% in the 4th quarter. Buckingham Capital Management Inc. now owns 88,027 shares of the manufacturing equipment provider’s stock valued at $2,882,000 after purchasing an additional 309 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of Applied Materials by 0.6% in the 4th quarter. IFP Advisors Inc now owns 57,125 shares of the manufacturing equipment provider’s stock valued at $1,850,000 after purchasing an additional 336 shares in the last quarter. UMB Bank N A MO raised its holdings in shares of Applied Materials by 4.1% in the 4th quarter. UMB Bank N A MO now owns 8,466 shares of the manufacturing equipment provider’s stock valued at $277,000 after purchasing an additional 336 shares in the last quarter. Finally, Certified Advisory Corp raised its holdings in shares of Applied Materials by 59.8% in the 4th quarter. Certified Advisory Corp now owns 1,080 shares of the manufacturing equipment provider’s stock valued at $35,000 after purchasing an additional 404 shares in the last quarter. Institutional investors own 79.35% of the company’s stock.

NASDAQ AMAT opened at $40.69 on Wednesday. The company has a current ratio of 2.64, a quick ratio of 1.73 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $37.91 billion, a P/E ratio of 9.14, a P/E/G ratio of 1.37 and a beta of 1.69. Applied Materials, Inc. has a 12 month low of $28.79 and a 12 month high of $62.40.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 15th. The manufacturing equipment provider reported $0.97 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.97. The firm had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4 billion. Applied Materials had a net margin of 19.20% and a return on equity of 62.56%. On average, research analysts forecast that Applied Materials, Inc. will post 3.37 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 14th. Investors of record on Thursday, February 21st will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Wednesday, February 20th. Applied Materials’s dividend payout ratio (DPR) is 17.98%.

A number of brokerages have recently weighed in on AMAT. Susquehanna Bancshares restated a “neutral” rating and issued a $38.00 price objective (down from $60.00) on shares of Applied Materials in a report on Tuesday, October 23rd. DA Davidson reduced their price objective on shares of Applied Materials to $55.00 and set a “buy” rating on the stock in a report on Friday, November 16th. Zacks Investment Research upgraded shares of Applied Materials from a “sell” rating to a “hold” rating in a report on Monday, December 17th. ValuEngine lowered shares of Applied Materials from a “hold” rating to a “sell” rating in a report on Monday, February 4th. Finally, BidaskClub upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company. Applied Materials has a consensus rating of “Buy” and a consensus price target of $50.96.

WARNING: This piece was first published by Markets Daily and is the property of of Markets Daily. If you are viewing this piece on another site, it was stolen and republished in violation of U.S. & international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.themarketsdaily.com/2019/02/13/destination-wealth-management-trims-holdings-in-applied-materials-inc-amat.html.

Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

Featured Article: Trading Ex-Dividend

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.