Mediolanum International Funds Ltd Trims Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Mediolanum International Funds Ltd reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 21.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 323,263 shares of the manufacturing equipment provider’s stock after selling 87,018 shares during the quarter. Applied Materials makes up approximately 0.7% of Mediolanum International Funds Ltd’s investment portfolio, making the stock its 29th largest position. Mediolanum International Funds Ltd’s holdings in Applied Materials were worth $52,769,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Clean Yield Group purchased a new position in Applied Materials in the third quarter valued at about $33,000. First PREMIER Bank increased its position in shares of Applied Materials by 326.3% during 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 in the last quarter. Crews Bank & Trust purchased a new stake in shares of Applied Materials during the 4th quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials in the 3rd quarter worth $37,000. Finally, DT Investment Partners LLC grew its stake in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after buying an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of AMAT stock opened at $181.72 on Friday. The company has a market capitalization of $147.86 billion, a P/E ratio of 21.11, a price-to-earnings-growth ratio of 1.99 and a beta of 1.53. 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’s 50 day moving average price is $174.24 and its two-hundred day moving average price is $187.55.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping the consensus estimate of $2.19 by $0.13. The company had revenue of $7.05 billion during the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.12 EPS. On average, analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The business also recently disclosed 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 dividend yield of 0.88%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Sanford C. Bernstein dropped their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Deutsche Bank Aktiengesellschaft decreased their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a report on Friday, November 15th. Morgan Stanley reiterated an “underweight” rating and set a $164.00 price target (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.