Geneva Partners LLC Makes New $3.63 Million Investment in Applied Materials, Inc. (NASDAQ:AMAT)

Geneva Partners LLC bought a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 22,411 shares of the manufacturing equipment provider’s stock, valued at approximately $3,632,000. Applied Materials accounts for about 2.0% of Geneva Partners LLC’s investment portfolio, making the stock its 23rd largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new position in shares of Applied Materials during the 4th quarter valued at about $59,000. Greenleaf Trust raised its position in Applied Materials by 1.0% in the fourth quarter. Greenleaf Trust now owns 40,498 shares of the manufacturing equipment provider’s stock valued at $6,564,000 after purchasing an additional 411 shares during the period. Naples Money Management LLC acquired a new stake in Applied Materials during the 4th quarter valued at approximately $243,000. Zhang Financial LLC grew its stake in Applied Materials by 42.7% during the 4th quarter. Zhang Financial LLC now owns 5,537 shares of the manufacturing equipment provider’s stock valued at $897,000 after purchasing an additional 1,656 shares in the last quarter. Finally, Beaumont Financial Advisors LLC acquired a new stake in Applied Materials during the 4th quarter valued at approximately $210,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group raised their price objective on Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Citigroup increased their target price on Applied Materials from $170.00 to $211.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Evercore ISI started coverage on Applied Materials in a report on Tuesday. They set an “outperform” rating and a $260.00 target price on the stock. Morgan Stanley increased their target price on Applied Materials from $142.00 to $190.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Finally, Mizuho increased their target price on Applied Materials from $185.00 to $225.00 and gave the stock a “buy” rating in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $201.50.

Applied Materials Stock Down 2.3 %

Shares of Applied Materials stock traded down $4.55 during trading hours on Friday, reaching $189.77. 6,493,512 shares of the company’s stock were exchanged, compared to its average volume of 6,204,208. The company has a 50 day moving average of $202.61 and a two-hundred day moving average of $169.59. Applied Materials, Inc. has a fifty-two week low of $109.15 and a fifty-two week high of $214.91. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. The stock has a market cap of $157.68 billion, a P/E ratio of 22.33, a P/E/G ratio of 2.99 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The company had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same period in the prior year, the business posted $2.03 EPS. The company’s quarterly revenue was down .4% on a year-over-year basis. On average, sell-side analysts forecast that Applied Materials, Inc. will post 8.04 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be paid a $0.40 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is 15.06%.

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.