Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Apollon Wealth Management LLC

Apollon Wealth Management LLC cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 26,658 shares of the manufacturing equipment provider’s stock after selling 847 shares during the period. Apollon Wealth Management LLC’s holdings in Applied Materials were worth $4,335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Forum Financial Management LP grew its stake in Applied Materials by 0.6% during the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock worth $1,847,000 after buying an additional 53 shares during the period. Sargent Investment Group LLC boosted its position in Applied Materials by 4.0% during the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after purchasing an additional 55 shares during the period. Biltmore Family Office LLC increased its holdings in Applied Materials by 5.3% in the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after purchasing an additional 55 shares in the last quarter. Field & Main Bank raised its position in Applied Materials by 1.8% in the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after purchasing an additional 55 shares during the period. Finally, BSW Wealth Partners lifted its stake in shares of Applied Materials by 1.3% during the third quarter. BSW Wealth Partners now owns 4,259 shares of the manufacturing equipment provider’s stock worth $860,000 after purchasing an additional 56 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on AMAT. Sanford C. Bernstein lowered their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. TD Cowen lowered their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company reduced their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Finally, Evercore ISI decreased their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $218.71.

Applied Materials Trading Down 1.5 %

NASDAQ:AMAT opened at $180.00 on Friday. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The business has a fifty day moving average of $175.19 and a 200-day moving average of $185.56. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51. The stock has a market cap of $146.29 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 1.86 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. Applied Materials’s revenue was up 4.8% on a year-over-year basis. During the same period in the previous year, the firm earned $2.12 EPS. Equities analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is currently 18.58%.

About Applied Materials

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.