Ibex Wealth Advisors Acquires Shares in Applied Materials, Inc.

Ibex Wealth Advisors has taken a significant step by acquiring shares in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) during the fourth quarter. This acquisition is highlighted in the company's latest filing with the Securities and Exchange Commission (SEC). In total, the institutional investor secured 2,858 shares of the manufacturing equipment provider, which is valued at around $465,000.

In addition to Ibex Wealth Advisors, several other large investors have recently engaged in buying or selling shares of Applied Materials. During the third quarter, Clean Yield Group established a new stake in the company, estimated at approximately $33,000. First PREMIER Bank dramatically increased its ownership by 326.3% during the same period, now holding 162 shares worth $33,000 after purchasing an additional 124 shares. MidAtlantic Capital Management Inc. also made a new investment in Applied Materials, valued at $37,000. Moreover, DT Investment Partners LLC raised their shares by 592.9% in the third quarter and currently owns 194 shares valued at $39,000 after further acquisitions. City Holding Co. joined in the fourth quarter, acquiring shares worth $39,000. Overall, institutional investors hold 80.56% of Applied Materials' stock.

Recent Analyst Ratings

Numerous research analysts have shared their insights regarding AMAT shares. Needham & Company LLC revised their price target on Applied Materials from $240.00 to $225.00 and maintained a "buy" rating. Barclays lowered their target price from $225.00 to $200.00 with an "equal weight" rating as reported on January 17th. Susquehanna raised their price estimate from $155.00 to $165.00 and provided a "neutral" rating on January 22nd. Morgan Stanley reaffirmed their "underweight" rating, setting a new price target of $164.00, down from $179.00. Bank of America also reduced their target price from $220.00 to $210.00 while maintaining a "buy" rating. Currently, one analyst has rated the stock a sell, seven have issued hold ratings, and fifteen analysts recommend a buy rating. According to data from MarketBeat.com, the consensus rating for the company is "Moderate Buy" with a target price average of $218.71.

Performance of Applied Materials' Stock

As of Thursday, AMAT shares opened at $175.28. Applied Materials boasts a market capitalization of $142.45 billion, with a P/E ratio of 20.36 and a P/E/G ratio of 1.99, alongside a beta of 1.53. The 50-day simple moving average is recorded at $174.15, while the 200-day simple moving average stands at $187.64. The firm has a current ratio of 2.51, a quick ratio of 1.87, and a debt-to-equity ratio of 0.29. Over the past year, Applied Materials has seen a low of $158.96 and a high of $255.89.

Earnings Results and Dividend Announcement

Applied Materials last reported their earnings on November 14th, revealing earnings per share of $2.32, which surpassed analyst expectations of $2.19 by $0.13. The company achieved a net margin of 26.41% and a return on equity of 39.26%. The reported revenue for the quarter was $7.05 billion, exceeding predictions of $6.96 billion. Compared to the same time last year, revenue has risen by 4.8%. Analysts predict that Applied Materials, Inc. will post earnings per share of 9.38 for the current year.

Recently, the company also announced a quarterly dividend, set for distribution on Thursday, March 13th. Stockholders recorded as of Thursday, February 20th, will receive a dividend of $0.40 per share. This translates to an annualized dividend of $1.60 and a dividend yield of 0.91%. The ex-dividend date is noted for February 20th. Currently, Applied Materials has a dividend payout ratio (DPR) of 18.58%.

Company Overview

Applied Materials, Inc. specializes in manufacturing equipment, services, and software for the semiconductor, display, and related industries. The operations are divided into three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment focuses on developing, manufacturing, and selling manufacturing equipment used in fabricating semiconductor chips or integrated circuits.

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