Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Rhumbline Advisers

Rhumbline Advisers lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,574,456 shares of the manufacturing equipment provider's stock after selling 25,859 shares during the quarter. Rhumbline Advisers owned about 0.19% of Applied Materials worth $256,054,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Forum Financial Management LP boosted its stake in shares of 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 valued at $1,847,000 after acquiring an additional 53 shares during the last quarter. Sargent Investment Group LLC boosted its stake in shares of 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 last quarter. Biltmore Family Office LLC grew its holdings in shares of Applied Materials by 5.3% during the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider's stock worth $221,000 after buying an additional 55 shares in the last quarter. Field & Main Bank raised its position in shares of 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 buying an additional 55 shares during the last quarter. 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 valued at $860,000 after buying an additional 56 shares during the period. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Stock Up 1.2 %

Shares of NASDAQ AMAT traded up $2.06 on Wednesday, hitting $174.06. The company had a trading volume of 5,792,836 shares, compared to its average volume of 6,703,145. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12-month low of $158.96 and a 12-month high of $255.89. The firm has a market capitalization of $141.46 billion, a P/E ratio of 22.75, a PEG ratio of 1.72 and a beta of 1.53. The business has a 50 day moving average of $175.39 and a two-hundred day moving average of $184.05.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. As a group, equities research analysts forecast that Applied Materials, Inc. will post 9.39 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Applied Materials's dividend payout ratio (DPR) is presently 20.92%.

Wall Street Analyst Weigh In

Several analysts have commented on AMAT shares. The Goldman Sachs Group lowered their target price on shares of Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company 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 for the company in a research note on Friday, February 14th. KeyCorp raised Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price target on the stock in a research note on Friday, January 17th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. Finally, Citigroup raised their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a "buy" rating in a research report on Tuesday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, Applied Materials currently has an average rating of "Moderate Buy" and an average 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.