Integrated Wealth Concepts LLC Has $6.55 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Integrated Wealth Concepts LLC lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 32,406 shares of the manufacturing equipment provider’s stock after selling 472 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Applied Materials were worth $6,548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Janus Henderson Group PLC raised its holdings in Applied Materials by 67.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock valued at $942,187,000 after acquiring an additional 1,884,153 shares during the period. Harmony Asset Management LLC grew its position in shares of Applied Materials by 3.6% in the third quarter. Harmony Asset Management LLC now owns 28,461 shares of the manufacturing equipment provider’s stock valued at $5,750,000 after purchasing an additional 985 shares during the last quarter. Hilltop Holdings Inc. increased its stake in shares of Applied Materials by 108.0% during the third quarter. Hilltop Holdings Inc. now owns 7,680 shares of the manufacturing equipment provider’s stock worth $1,552,000 after purchasing an additional 3,988 shares during the period. Chevy Chase Trust Holdings LLC increased its stake in shares of Applied Materials by 1.1% during the third quarter. Chevy Chase Trust Holdings LLC now owns 480,905 shares of the manufacturing equipment provider’s stock worth $97,167,000 after purchasing an additional 5,249 shares during the period. Finally, Ascent Group LLC lifted its holdings in Applied Materials by 128.4% during the 3rd quarter. Ascent Group LLC now owns 12,684 shares of the manufacturing equipment provider’s stock worth $2,563,000 after purchasing an additional 7,131 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $183.16 on Wednesday. Applied Materials, Inc. has a one year low of $144.57 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The company has a market cap of $151.00 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 1.72 and a beta of 1.52. The firm has a 50 day simple moving average of $187.62 and a 200 day simple moving average of $203.99.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. Applied Materials’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.12 EPS. Research analysts predict that Applied Materials, Inc. will post 9.5 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Thursday, November 21st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Thursday, November 21st. Applied Materials’s payout ratio is 18.58%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Stifel Nicolaus lowered their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. StockNews.com downgraded shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Saturday, September 14th. Bank of America lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Wells Fargo & Company cut their price target on Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Eight analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $221.48.

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.