Main Street Research LLC Lowers Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Main Street Research LLC lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 50.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,642 shares of the manufacturing equipment provider’s stock after selling 40,829 shares during the period. Main Street Research LLC’s holdings in Applied Materials were worth $6,610,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Sargent Investment Group LLC increased its position in shares of Applied Materials by 4.0% during the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after acquiring an additional 55 shares during the period. Biltmore Family Office LLC raised its position in Applied Materials by 5.3% during the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after purchasing an additional 55 shares in the last quarter. Field & Main Bank lifted its holdings in shares of Applied Materials by 1.8% in the 4th quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock worth $516,000 after buying an additional 55 shares during the period. Bank of New Hampshire grew its position in shares of Applied Materials by 0.8% during the 4th quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock worth $1,138,000 after buying an additional 56 shares in the last quarter. Finally, Grove Bank & Trust increased its stake in shares of Applied Materials by 0.8% during the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock valued at $1,202,000 after buying an additional 60 shares during the period. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 2.7 %

Applied Materials stock opened at $155.68 on Monday. Applied Materials, Inc. has a 12 month low of $149.55 and a 12 month high of $255.89. The stock has a market capitalization 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. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The business has a 50 day simple moving average of $173.96 and a 200-day simple moving average of $180.81.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. On average, analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business 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 is presently 20.92%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective for the company in a research note on Friday, January 17th. The Goldman Sachs Group cut their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Citigroup upped their target price on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Needham & Company LLC cut their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. One equities research 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.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.24% of the stock is currently owned by insiders.

About Applied Materials

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.