Zurcher Kantonalbank Zurich Cantonalbank Sells 433,494 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 43.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 572,859 shares of the manufacturing equipment provider’s stock after selling 433,494 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Applied Materials worth $93,164,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. AlphaQuest LLC increased its stake in shares of Applied Materials by 201.3% in the 4th quarter. AlphaQuest LLC now owns 3,510 shares of the manufacturing equipment provider’s stock valued at $571,000 after acquiring an additional 2,345 shares during the last quarter. Argentarii LLC bought a new stake in Applied Materials during the 4th quarter worth approximately $471,000. OFI Invest Asset Management bought a new stake in Applied Materials during the 4th quarter worth approximately $2,489,000. United Community Bank increased its stake in Applied Materials by 139.8% during the 4th quarter. United Community Bank now owns 4,546 shares of the manufacturing equipment provider’s stock worth $739,000 after purchasing an additional 2,650 shares in the last quarter. Finally, Personal CFO Solutions LLC increased its stake in Applied Materials by 1.8% during the 4th quarter. Personal CFO Solutions LLC now owns 5,098 shares of the manufacturing equipment provider’s stock worth $829,000 after purchasing an additional 90 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Up 2.7 %

AMAT opened at $155.68 on Monday. Applied Materials, Inc. has a 1-year low of $149.55 and a 1-year high of $255.89. The stock’s fifty day simple moving average is $173.96 and its 200 day simple moving average is $180.81. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a market cap of $126.48 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. 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 firm 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is presently 20.92%.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMAT. Wells Fargo & Company lowered their target price on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Evercore ISI lowered their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Susquehanna upped their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein reduced their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $215.38.

Applied Materials 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.