Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Eliot Finkel Investment Counsel LLC

Eliot Finkel Investment Counsel LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 22,803 shares of the manufacturing equipment provider’s stock after selling 459 shares during the quarter. Applied Materials comprises 2.4% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its 20th biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Applied Materials were worth $3,708,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AMAT. FPC Investment Advisory Inc. purchased a new position in Applied Materials in the 4th quarter valued at $28,000. Crews Bank & Trust purchased a new position in Applied Materials in the 4th quarter valued at $28,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the 3rd quarter valued at $37,000. YANKCOM Partnership purchased a new position in Applied Materials in the 4th quarter valued at $32,000. Finally, Dunhill Financial LLC lifted its holdings in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the business’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. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AMAT. Evercore ISI decreased their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Bank of America reduced their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Stifel Nicolaus reduced their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Finally, Wells Fargo & Company reduced their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Stock Performance

NASDAQ AMAT opened at $158.07 on Friday. The company has a market cap of $128.42 billion, a P/E ratio of 20.66, a P/E/G 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 stock has a 50-day moving average of $175.38 and a two-hundred day moving average of $182.90. Applied Materials, Inc. has a 1-year low of $153.95 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. As a group, analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is presently 20.92%.

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.