Covenant Asset Management LLC Acquires 1,450 Shares of Applied Materials, Inc. (AMAT)

Covenant Asset Management LLC increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,790 shares of the manufacturing equipment provider’s stock after acquiring an additional 1,450 shares during the quarter. Covenant Asset Management LLC’s holdings in Applied Materials were worth $1,267,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Applied Materials by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 75,084,373 shares of the manufacturing equipment provider’s stock valued at $3,101,736,000 after buying an additional 1,721,964 shares during the period. State Street Corp increased its holdings in Applied Materials by 2.1% in the 2nd quarter. State Street Corp now owns 48,897,158 shares of the manufacturing equipment provider’s stock valued at $2,019,939,000 after buying an additional 985,296 shares during the period. Capital Research Global Investors increased its holdings in Applied Materials by 14.8% in the 2nd quarter. Capital Research Global Investors now owns 17,724,836 shares of the manufacturing equipment provider’s stock valued at $732,213,000 after buying an additional 2,284,836 shares during the period. Egerton Capital UK LLP increased its holdings in Applied Materials by 23.2% in the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock valued at $881,359,000 after buying an additional 3,184,994 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Applied Materials by 5.7% in the 3rd quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after buying an additional 650,755 shares during the period. 79.76% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials, Inc. (NASDAQ AMAT) traded up $0.25 on Friday, hitting $53.45. 7,610,501 shares of the stock were exchanged, compared to its average volume of 12,440,000. Applied Materials, Inc. has a one year low of $32.60 and a one year high of $60.89. The company has a current ratio of 3.14, a quick ratio of 2.43 and a debt-to-equity ratio of 0.57. The firm has a market cap of $56,460.00, a P/E ratio of 16.86, a P/E/G ratio of 1.07 and a beta of 1.81.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.02. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. During the same period last year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 20.4% compared to the same quarter last year. equities analysts predict that Applied Materials, Inc. will post 4.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 14th. Investors of record on Wednesday, February 21st will be given a dividend of $0.10 per share. The ex-dividend date is Tuesday, February 20th. This represents a $0.40 annualized dividend and a yield of 0.75%. Applied Materials’s dividend payout ratio is presently 12.62%.

In related news, Director Stephen R. Forrest sold 4,000 shares of Applied Materials stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $53.67, for a total transaction of $214,680.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Ali Salehpour sold 125,125 shares of Applied Materials stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $51.47, for a total transaction of $6,440,183.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 312,716 shares of company stock worth $16,218,746. 0.31% of the stock is owned by corporate insiders.

Several equities analysts have commented on the stock. BidaskClub lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Thursday. Vetr lowered shares of Applied Materials from a “strong-buy” rating to a “buy” rating and set a $62.50 target price on the stock. in a report on Monday. Needham & Company LLC raised shares of Applied Materials from a “buy” rating to a “strong-buy” rating and raised their target price for the company from $66.00 to $72.00 in a report on Monday. Zacks Investment Research raised shares of Applied Materials from a “hold” rating to a “strong-buy” rating and set a $59.00 target price on the stock in a report on Friday, December 15th. Finally, Wells Fargo & Co assumed coverage on shares of Applied Materials in a report on Tuesday, December 5th. They issued an “outperform” rating and a $65.00 target price on the stock. Two analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $61.22.

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Applied Materials Company Profile

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

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