Alhambra Investment Management LLC Invests $302,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Alhambra Investment Management LLC acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,858 shares of the manufacturing equipment provider's stock, valued at approximately $302,000.

Other large investors have also recently made changes to their positions in the company. Arkadios Wealth Advisors increased its stake in Applied Materials by 17.1% in the 4th quarter. Arkadios Wealth Advisors now owns 10,588 shares of the manufacturing equipment provider's stock valued at $1,722,000 after buying an additional 1,543 shares during the last quarter. InTrack Investment Management Inc purchased a new position in Applied Materials in the fourth quarter valued at about $567,000. Retirement Wealth Solutions LLC bought a new stake in shares of Applied Materials in the 4th quarter worth approximately $62,000. Brooklyn Investment Group grew its holdings in Applied Materials by 10.7% during the fourth quarter. Brooklyn Investment Group now owns 6,038 shares of the manufacturing equipment provider's stock valued at $982,000 after purchasing an additional 582 shares during the period. Finally, Albert D Mason Inc. raised its stake in shares of Applied Materials by 5.6% in the fourth quarter. Albert D Mason Inc. now owns 2,572 shares of the manufacturing equipment provider's stock valued at $418,000 after buying an additional 136 shares during the period. 80.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on AMAT shares. Deutsche Bank Aktiengesellschaft decreased their price objective on Applied Materials from $220.00 to $200.00 and set a "hold" rating for the company in a report on Friday, November 15th. Bank of America cut their price objective on shares of Applied Materials from $220.00 to $210.00 and set a "buy" rating for the company in a report on Friday, November 15th. Mizuho dropped their target price on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, January 10th. Barclays cut their price target on Applied Materials from $225.00 to $200.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Sanford C. Bernstein reduced their target price on Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a report on Friday, November 29th. One 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, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $217.41.

Applied Materials Trading Up 3.0 %

AMAT traded up $5.57 during midday trading on Friday, reaching $192.05. 8,101,765 shares of the company's stock traded hands, compared to its average volume of 5,337,131. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. Applied Materials, Inc. has a 52 week low of $156.78 and a 52 week high of $255.89. The stock has a market capitalization of $156.27 billion, a price-to-earnings ratio of 22.31, a P/E/G ratio of 1.75 and a beta of 1.53. The firm has a fifty day moving average of $173.10 and a two-hundred day moving average of $191.30.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the firm earned $2.12 earnings per share. Applied Materials's revenue was up 4.8% on a year-over-year basis. On average, equities analysts anticipate that Applied Materials, Inc. will post 9.37 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date is Thursday, February 20th. Applied Materials's dividend payout ratio (DPR) is presently 18.58%.

Applied Materials Company 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.