VCI Wealth Management LLC Decreases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

VCI Wealth Management LLC trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 25.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,022 shares of the manufacturing equipment provider’s stock after selling 3,006 shares during the quarter. VCI Wealth Management LLC’s holdings in Applied Materials were worth $1,467,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Dark Forest Capital Management LP purchased a new stake in Applied Materials in the 2nd quarter worth about $245,000. Ascent Group LLC raised its position in Applied Materials by 140.6% in the 2nd quarter. Ascent Group LLC now owns 5,553 shares of the manufacturing equipment provider’s stock worth $1,310,000 after purchasing an additional 3,245 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in Applied Materials in the 2nd quarter worth about $362,000. Wellington Wealth Strategies LLC. purchased a new stake in Applied Materials in the 2nd quarter worth about $855,000. Finally, Ecofi Investissements SA bought a new position in Applied Materials in the 2nd quarter worth about $11,265,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Trading Down 6.5 %

NASDAQ AMAT opened at $174.57 on Tuesday. The company has a fifty day simple moving average of $174.00 and a two-hundred day simple moving average of $188.61. The stock has a market cap of $142.04 billion, a P/E ratio of 20.28, a P/E/G ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a 12-month low of $158.96 and a 12-month high of $255.89. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29.

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

Applied Materials Dividend Announcement

The business also recently declared 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. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Applied Materials’s dividend payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. 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. TD Cowen dropped their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Sanford C. Bernstein dropped 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, November 29th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.