Advocate Group LLC Sells 646 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Advocate Group LLC cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,982 shares of the manufacturing equipment provider’s stock after selling 646 shares during the quarter. Advocate Group LLC’s holdings in Applied Materials were worth $1,786,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Clean Yield Group bought a new position in shares of Applied Materials in the 3rd quarter worth about $33,000. First PREMIER Bank lifted its stake in shares of Applied Materials by 326.3% in the 3rd quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after purchasing an additional 124 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Applied Materials in the 3rd quarter worth approximately $37,000. DT Investment Partners LLC lifted its stake in shares of Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, City Holding Co. bought a new position in shares of Applied Materials in the 4th quarter worth approximately $39,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Down 2.1 %

Shares of NASDAQ:AMAT opened at $186.75 on Friday. 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, Inc. has a 12 month low of $158.96 and a 12 month high of $255.89. The company has a 50-day moving average price of $174.00 and a 200 day moving average price of $189.50. The company has a market cap of $151.77 billion, a price-to-earnings ratio of 21.69, a PEG ratio of 1.99 and a beta of 1.53.

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

Applied Materials Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is 18.58%.

Analyst Ratings Changes

AMAT has been the topic of several recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research note on Friday, November 15th. Wells Fargo & Company decreased their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Deutsche Bank Aktiengesellschaft decreased 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. Mizuho decreased 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. Finally, Susquehanna raised their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $218.71.

About Applied Materials

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.