Meritage Portfolio Management Cuts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Meritage Portfolio Management lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,554 shares of the manufacturing equipment provider’s stock after selling 552 shares during the period. Meritage Portfolio Management’s holdings in Applied Materials were worth $4,806,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of AMAT. Crews Bank & Trust bought a new position in Applied Materials during the 4th quarter valued at approximately $28,000. Clean Yield Group bought a new stake in shares of Applied Materials in the third quarter worth approximately $33,000. First PREMIER Bank lifted its holdings in shares of 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 buying an additional 124 shares during the period. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the third quarter worth about $37,000. Finally, DT Investment Partners LLC grew its position in Applied Materials by 592.9% during the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 166 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Down 0.1 %

Shares of NASDAQ:AMAT opened at $178.56 on Wednesday. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week high of $255.89. 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 company has a market cap of $145.12 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.84 and a beta of 1.53. The firm has a 50 day simple moving average of $174.67 and a 200 day simple moving average of $185.92.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The business 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 for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $2.12 EPS. As a group, research analysts expect 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. Investors of record on Thursday, February 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.90%. Applied Materials’s dividend payout ratio is 18.58%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on AMAT shares. Susquehanna upped their price target on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. Needham & Company LLC lowered their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company 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 for the company in a research note on Friday, January 17th. Finally, Sanford C. Bernstein lowered their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. One investment 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 MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $218.71.

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.