KG&L Capital Management LLC Increases Position in Applied Materials, Inc. (NASDAQ:AMAT)

KG&L Capital Management LLC boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 42.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,206 shares of the manufacturing equipment provider's stock after acquiring an additional 4,551 shares during the quarter. KG&L Capital Management LLC's holdings in Applied Materials were worth $2,473,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Forum Financial Management LP boosted its position in Applied Materials by 0.6% in the 3rd quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider's stock valued at $1,847,000 after buying an additional 53 shares during the period. Sargent Investment Group LLC lifted its holdings in shares of Applied Materials by 4.0% in the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider's stock worth $286,000 after buying an additional 55 shares during the period. Biltmore Family Office LLC grew its position in shares of Applied Materials by 5.3% during the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider's stock worth $221,000 after buying an additional 55 shares in the last quarter. Field & Main Bank increased its stake in shares of Applied Materials by 1.8% during the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider's stock valued at $516,000 after buying an additional 55 shares during the period. Finally, waypoint wealth counsel raised its holdings in shares of Applied Materials by 3.1% in the third quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider's stock valued at $374,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

Applied Materials Stock Performance

Shares of AMAT stock traded down $0.27 during trading hours on Tuesday, hitting $178.53. The company's stock had a trading volume of 2,570,965 shares, compared to its average volume of 6,511,648. The stock has a market cap of $145.09 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.84 and a beta of 1.53. Applied Materials, Inc. has a 12-month low of $158.96 and a 12-month high of $255.89. The company has a 50 day moving average of $174.56 and a 200 day moving average of $186.14. 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 (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm earned $2.12 EPS. On average, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed 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 of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.90%. Applied Materials's dividend payout ratio is presently 18.58%.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of research reports. Wells Fargo & Company cut their target price on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Morgan Stanley reissued an "underweight" rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Barclays lowered their target price on Applied Materials from $225.00 to $200.00 and set an "equal weight" rating for the company in a report on Friday, January 17th. Bank of America decreased their price objective on Applied Materials from $220.00 to $210.00 and set a "buy" rating for the company in a research note on Friday, November 15th. Finally, Evercore ISI cut their price objective on shares of Applied Materials from $260.00 to $250.00 and set an "outperform" rating on the stock in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $218.71.

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.