United Asset Strategies Inc. Decreases Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

United Asset Strategies Inc. trimmed its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 28.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,772 shares of the manufacturing equipment provider’s stock after selling 3,522 shares during the quarter. United Asset Strategies Inc.’s holdings in Applied Materials were worth $1,427,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Clean Yield Group bought a new position in shares of Applied Materials during the 3rd quarter worth $33,000. First PREMIER Bank grew its holdings in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the last quarter. MidAtlantic Capital Management Inc. acquired a new position in Applied Materials during the 3rd quarter valued at about $37,000. DT Investment Partners LLC boosted its stake in Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares in the last quarter. Finally, City Holding Co. purchased a new stake in shares of Applied Materials during the fourth quarter valued at $39,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Down 2.1 %

Shares of AMAT opened at $186.75 on Monday. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The company’s 50-day simple moving average is $174.00 and its 200-day simple moving average is $188.61. 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 stock has a market capitalization of $151.95 billion, a PE ratio of 21.69, a P/E/G 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 analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter in the prior year, the business posted $2.12 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts forecast 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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on AMAT shares. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a research report on Friday, January 17th. Susquehanna raised their price objective on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. TD Cowen cut their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Stifel Nicolaus decreased their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, Morgan Stanley restated an “underweight” rating and issued a $164.00 price target (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $218.71.

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.