Mediolanum International Funds Ltd Reduces Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mediolanum International Funds Ltd lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 21.2% during the 4th quarter, HoldingsChannel reports. The firm owned 323,263 shares of the manufacturing equipment provider’s stock after selling 87,018 shares during the quarter. Applied Materials accounts for about 0.7% of Mediolanum International Funds Ltd’s investment portfolio, making the stock its 29th biggest holding. Mediolanum International Funds Ltd’s holdings in Applied Materials were worth $52,769,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Crews Bank & Trust purchased a new stake in Applied Materials in the 4th quarter valued at $28,000. Capital Investment Advisory Services LLC raised its holdings in Applied Materials by 18.5% in the fourth quarter. Capital Investment Advisory Services LLC now owns 6,646 shares of the manufacturing equipment provider’s stock valued at $1,081,000 after acquiring an additional 1,039 shares in the last quarter. Palmer Knight Co lifted its holdings in Applied Materials by 0.6% during the 4th quarter. Palmer Knight Co now owns 38,111 shares of the manufacturing equipment provider’s stock worth $6,198,000 after buying an additional 239 shares during the last quarter. Busey Bank boosted its holdings in Applied Materials by 1.5% in the fourth quarter. Busey Bank now owns 178,420 shares of the manufacturing equipment provider’s stock valued at $29,016,000 after purchasing an additional 2,679 shares in the last quarter. Finally, First Affirmative Financial Network grew its position in shares of Applied Materials by 7.1% in the 4th quarter. First Affirmative Financial Network now owns 7,496 shares of the manufacturing equipment provider’s stock valued at $1,219,000 after buying an additional 499 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Up 3.7 %

Shares of Applied Materials stock opened at $181.72 on Friday. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The company has a 50-day moving average of $174.24 and a 200 day moving average of $187.55. The firm has a market cap of $147.86 billion, a price-to-earnings ratio of 21.11, a PEG ratio of 1.99 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating 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 company had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same period last year, the firm posted $2.12 earnings per share. Applied Materials’s revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders 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 0.88%. Applied Materials’s payout ratio is currently 18.58%.

Analyst Ratings Changes

A number of analysts have weighed in on AMAT shares. The Goldman Sachs Group decreased their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Sanford C. Bernstein cut their price objective 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. Morgan Stanley reissued an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Wells Fargo & Company lowered their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Finally, Needham & Company LLC decreased their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.