Exchange Capital Management Inc. Sells 246 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Exchange Capital Management Inc. lessened its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 8,578 shares of the manufacturing equipment provider’s stock after selling 246 shares during the period. Exchange Capital Management Inc.’s holdings in Applied Materials were worth $1,395,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust bought a new position in shares of Applied Materials during the fourth quarter valued at approximately $28,000. FPC Investment Advisory Inc. acquired a new stake in shares of Applied Materials in the fourth quarter valued at about $28,000. YANKCOM Partnership acquired a new stake in Applied Materials during the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials in the 3rd quarter valued at about $37,000. Finally, City Holding Co. acquired a new position in Applied Materials during the 4th quarter worth about $39,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Performance

Shares of AMAT stock opened at $168.57 on Tuesday. The company’s fifty day moving average price is $175.62 and its 200-day moving average price is $183.74. The stock has a market cap of $137.00 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53. Applied Materials, Inc. has a 12 month low of $158.96 and a 12 month high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced 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 return on equity of 39.50% and a net margin of 22.95%. On average, equities analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.95%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is 20.92%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Morgan Stanley reiterated an “underweight” rating and set a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Stifel Nicolaus lowered their price objective on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Finally, Needham & Company LLC cut their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.