Mutual of America Capital Management LLC Decreases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mutual of America Capital Management LLC lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 98,748 shares of the manufacturing equipment provider’s stock after selling 3,195 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Applied Materials were worth $16,059,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Crews Bank & Trust bought a new stake in shares of Applied Materials in the fourth quarter valued at $28,000. FPC Investment Advisory Inc. purchased a new stake in Applied Materials in the 4th quarter worth about $28,000. YANKCOM Partnership bought a new stake in Applied Materials in the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials during the third quarter valued at about $37,000. Finally, City Holding Co. bought a new position in Applied Materials during the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ AMAT opened at $158.07 on Friday. Applied Materials, Inc. has a 52-week low of $153.95 and a 52-week high of $255.89. The company has a fifty day moving average of $175.38 and a 200-day moving average of $183.03. The company has a market capitalization of $128.42 billion, a P/E ratio of 20.66, a P/E/G ratio of 1.81 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. As a group, equities research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is currently 20.92%.

Insiders Place Their Bets

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on AMAT shares. The Goldman Sachs Group dropped their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Needham & Company LLC dropped their target price on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus cut their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Morgan Stanley reiterated an “underweight” rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Finally, TD Cowen cut their target price on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $215.38.

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.