Shayne & Jacobs LLC Sells 954 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Shayne & Jacobs LLC cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,705 shares of the manufacturing equipment provider’s stock after selling 954 shares during the quarter. Applied Materials accounts for about 0.9% of Shayne & Jacobs LLC’s holdings, making the stock its 14th biggest holding. Shayne & Jacobs LLC’s holdings in Applied Materials were worth $3,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Forum Financial Management LP lifted its position in shares of Applied Materials by 0.6% in the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock valued at $1,847,000 after acquiring an additional 53 shares in the last quarter. Sargent Investment Group LLC increased its position in Applied Materials by 4.0% in the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after purchasing an additional 55 shares during the last quarter. Biltmore Family Office LLC increased its holdings in shares of Applied Materials by 5.3% in the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock worth $221,000 after buying an additional 55 shares during the last quarter. Field & Main Bank raised its position in Applied Materials by 1.8% during the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after purchasing an additional 55 shares during the period. Finally, BSW Wealth Partners grew its holdings in Applied Materials by 1.3% during the 3rd quarter. BSW Wealth Partners now owns 4,259 shares of the manufacturing equipment provider’s stock valued at $860,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

AMAT stock opened at $165.54 on Wednesday. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The firm has a market capitalization of $134.53 billion, a PE ratio of 21.64, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53. 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 $175.53 and a 200-day simple moving average of $183.56.

Applied Materials (NASDAQ:AMAT) last posted 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 return on equity of 39.50% and a net margin of 22.95%. Equities research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is 20.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AMAT shares. Morgan Stanley restated an “underweight” rating and issued a $164.00 target price (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Sanford C. Bernstein cut their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. KeyCorp upgraded Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a research note on Friday, January 17th. Barclays cut their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, Stifel Nicolaus cut their price objective on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Insiders Place Their Bets

In other news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the transaction, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by company insiders.

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.