Cigna Investments Inc. New Cuts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Cigna Investments Inc. New lessened its holdings in Applied Materials, Inc. (NASDAQ:AMATFree Report) by 1.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,912 shares of the manufacturing equipment provider’s stock after selling 175 shares during the quarter. Cigna Investments Inc. New’s holdings in Applied Materials were worth $1,444,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of AMAT. Contravisory Investment Management Inc. purchased a new stake in shares of Applied Materials during the fourth quarter worth approximately $7,274,000. Gotham Asset Management LLC lifted its stake in shares of Applied Materials by 31.2% in the 3rd quarter. Gotham Asset Management LLC now owns 164,751 shares of the manufacturing equipment provider’s stock valued at $22,810,000 after purchasing an additional 39,194 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of Applied Materials by 0.3% in the 3rd quarter. California Public Employees Retirement System now owns 2,161,556 shares of the manufacturing equipment provider’s stock valued at $299,267,000 after purchasing an additional 6,466 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Applied Materials by 9.1% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 830,038 shares of the manufacturing equipment provider’s stock valued at $114,919,000 after purchasing an additional 69,388 shares during the last quarter. Finally, New England Research & Management Inc. acquired a new position in shares of Applied Materials in the 3rd quarter valued at $433,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

Applied Materials stock traded down $3.95 during mid-day trading on Tuesday, hitting $204.74. 291,966 shares of the company were exchanged, compared to its average volume of 6,417,407. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.71 and a quick ratio of 1.91. The business’s 50 day simple moving average is $192.04 and its two-hundred day simple moving average is $162.88. The company has a market capitalization of $170.12 billion, a P/E ratio of 24.24, a PEG ratio of 3.12 and a beta of 1.59. Applied Materials, Inc. has a 12-month low of $109.00 and a 12-month high of $214.91.

Applied Materials (NASDAQ:AMATGet Free Report) last released its quarterly earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.23. The company had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.48 billion. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. Applied Materials’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the business posted $2.03 earnings per share. Analysts forecast that Applied Materials, Inc. will post 8.03 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be given a dividend of $0.40 per share. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 annualized dividend and a yield of 0.78%. Applied Materials’s dividend payout ratio (DPR) is presently 15.06%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Susquehanna increased their target price on Applied Materials from $138.00 to $160.00 and gave the stock a “neutral” rating in a research note on Friday, February 16th. The Goldman Sachs Group increased their price objective on Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a report on Friday, February 16th. Barclays upped their target price on Applied Materials from $120.00 to $140.00 and gave the company an “underweight” rating in a research report on Tuesday, January 16th. UBS Group upped their target price on Applied Materials from $185.00 to $235.00 and gave the company a “neutral” rating in a research report on Tuesday, March 5th. Finally, Bank Of America (Bofa) upped their target price on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average price target of $191.83.

Check Out Our Latest Stock Analysis on Applied Materials

About Applied Materials

(Free Report)

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.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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