Glass Wealth Management Co LLC Sells 680 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Glass Wealth Management Co LLC lowered its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,765 shares of the manufacturing equipment provider’s stock after selling 680 shares during the quarter. Applied Materials makes up 1.2% of Glass Wealth Management Co LLC’s portfolio, making the stock its 29th biggest position. Glass Wealth Management Co LLC’s holdings in Applied Materials were worth $2,239,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $28,000. Crews Bank & Trust purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Applied Materials in the 3rd quarter worth approximately $37,000. YANKCOM Partnership purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $32,000. Finally, Dunhill Financial LLC grew its position in Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

AMAT has been the topic of several research analyst reports. Evercore ISI dropped their target price 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. Barclays dropped their target price on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price on the stock in a research report on Friday, January 17th. Finally, Bank of America dropped their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Stock Performance

AMAT opened at $152.87 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The firm has a fifty day moving average price of $174.76 and a 200 day moving average price of $181.96. Applied Materials, Inc. has a 1 year low of $149.55 and a 1 year high of $255.89. The stock has a market cap of $124.20 billion, a P/E ratio of 19.98, a P/E/G ratio of 1.81 and a beta of 1.53.

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

Applied Materials Announces Dividend

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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 20.92%.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company insiders.

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.