Amalgamated Bank Lowers Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Amalgamated Bank cut its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 171,752 shares of the manufacturing equipment provider’s stock after selling 12,259 shares during the quarter. Amalgamated Bank’s holdings in Applied Materials were worth $27,932,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials during the 4th quarter worth about $28,000. Crews Bank & Trust acquired a new position in Applied Materials during the fourth quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials during the third quarter worth approximately $37,000. YANKCOM Partnership purchased a new position in Applied Materials during the fourth quarter worth approximately $32,000. Finally, Dunhill Financial LLC grew its stake in shares of Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of Applied Materials stock opened at $168.57 on Tuesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The firm’s 50-day simple moving average is $175.62 and its 200-day simple moving average is $183.74. The firm has a market cap of $137.00 billion, a PE ratio of 22.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating 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 analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

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 issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 20.92%.

Analyst Ratings Changes

A number of research analysts recently weighed in on AMAT shares. Barclays reduced their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Citigroup increased their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Mizuho cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research report on Friday, November 15th. Finally, 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 report on Friday, January 17th. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

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.