TTP Investments Inc. Sells 914 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

TTP Investments Inc. lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 8.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,286 shares of the manufacturing equipment provider’s stock after selling 914 shares during the quarter. Applied Materials makes up approximately 0.6% of TTP Investments Inc.’s portfolio, making the stock its 20th biggest holding. TTP Investments Inc.’s holdings in Applied Materials were worth $1,673,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. AlphaMark Advisors LLC lifted its stake in shares of Applied Materials by 50.9% during the 4th quarter. AlphaMark Advisors LLC now owns 415 shares of the manufacturing equipment provider’s stock valued at $67,000 after buying an additional 140 shares in the last quarter. Patton Albertson Miller Group LLC raised its holdings in Applied Materials by 580.2% during the 4th quarter. Patton Albertson Miller Group LLC now owns 33,509 shares of the manufacturing equipment provider’s stock valued at $5,450,000 after acquiring an additional 28,583 shares during the period. Grimes & Company Inc. lifted its position in shares of Applied Materials by 0.7% during the fourth quarter. Grimes & Company Inc. now owns 74,931 shares of the manufacturing equipment provider’s stock worth $12,186,000 after acquiring an additional 557 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Applied Materials by 9.5% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 22,043 shares of the manufacturing equipment provider’s stock worth $3,585,000 after acquiring an additional 1,920 shares during the period. Finally, Cyndeo Wealth Partners LLC grew its position in shares of Applied Materials by 0.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock valued at $2,375,000 after purchasing an additional 60 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Price Performance

Shares of Applied Materials stock opened at $186.75 on Friday. The firm has a market cap of $151.77 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 1.99 and a beta of 1.53. The company’s fifty day simple moving average is $174.00 and its two-hundred day simple moving average is $189.50. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12-month low of $158.96 and a 12-month high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same quarter in the previous year, the business earned $2.12 EPS. Applied Materials’s revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.86%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is currently 18.58%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Wells Fargo & Company reduced their target price on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Barclays decreased their target price on shares of Applied Materials from $225.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Morgan Stanley reissued an “underweight” rating and issued a $164.00 price target (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Bank of America decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Stifel Nicolaus lowered their price objective on Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

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.