Wright Investors Service Inc. Sells 4,163 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Wright Investors Service Inc. lessened its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 12.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 28,346 shares of the manufacturing equipment provider's stock after selling 4,163 shares during the period. Applied Materials makes up about 1.5% of Wright Investors Service Inc.'s holdings, making the stock its 20th largest position. Wright Investors Service Inc.'s holdings in Applied Materials were worth $4,610,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Fairfield Financial Advisors LTD purchased a new stake in shares of Applied Materials in the second quarter worth approximately $28,000. Clean Yield Group purchased a new stake in Applied Materials in the 3rd quarter valued at $33,000. First PREMIER Bank lifted its stake in Applied Materials by 326.3% during the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider's stock valued at $33,000 after acquiring an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials during the 3rd quarter worth $37,000. Finally, DT Investment Partners LLC grew its stake in shares of Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider's stock worth $39,000 after acquiring an additional 166 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on AMAT shares. Morgan Stanley reissued an "underweight" rating and set a $164.00 price target (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Susquehanna dropped their target price on shares of Applied Materials from $190.00 to $170.00 and set a "neutral" rating on the stock in a research report on Monday, November 11th. Evercore ISI reduced their target price on Applied Materials from $260.00 to $250.00 and set an "outperform" rating for the company in a report on Friday, November 15th. Dbs Bank lowered Applied Materials from a "strong-buy" rating to a "hold" rating in a report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price objective on Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $218.24.

Applied Materials Stock Performance

AMAT stock traded up $2.79 during midday trading on Tuesday, reaching $173.65. 3,841,162 shares of the company's stock traded hands, compared to its average volume of 5,735,997. Applied Materials, Inc. has a 52 week low of $149.84 and a 52 week high of $255.89. The company has a 50-day moving average price of $173.69 and a two-hundred day moving average price of $192.18. 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 firm has a market capitalization of $141.30 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.61 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter last year, the company earned $2.12 EPS. The firm's revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts anticipate that Applied Materials, Inc. will post 9.48 EPS for the current year.

Applied Materials Announces Dividend

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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date is Thursday, February 20th. Applied Materials's payout ratio is 18.58%.

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.