Cumberland Partners Ltd Has $17.16 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Cumberland Partners Ltd decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 105,523 shares of the manufacturing equipment provider’s stock after selling 6,172 shares during the period. Applied Materials comprises approximately 1.2% of Cumberland Partners Ltd’s holdings, making the stock its 28th largest position. Cumberland Partners Ltd’s holdings in Applied Materials were worth $17,161,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Forum Financial Management LP boosted its stake in Applied Materials by 0.6% in the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock worth $1,847,000 after buying an additional 53 shares in the last quarter. Sargent Investment Group LLC boosted its holdings in Applied Materials by 4.0% during the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock valued at $286,000 after acquiring an additional 55 shares during the period. Biltmore Family Office LLC grew its position in Applied Materials by 5.3% during the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock worth $221,000 after acquiring an additional 55 shares during the last quarter. Field & Main Bank increased its stake in Applied Materials by 1.8% in the 4th quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock worth $516,000 after purchasing an additional 55 shares during the period. Finally, BSW Wealth Partners lifted its position in Applied Materials by 1.3% in the third quarter. BSW Wealth Partners now owns 4,259 shares of the manufacturing equipment provider’s stock valued at $860,000 after purchasing an additional 56 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of AMAT opened at $174.06 on Thursday. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock has a market cap of $141.46 billion, a P/E ratio of 22.75, a P/E/G ratio of 1.72 and a beta of 1.53. The business’s 50 day moving average price is $175.39 and its 200-day moving average price is $184.05. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping 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 research analysts anticipate that Applied Materials, Inc. will post 9.39 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. Applied Materials’s dividend payout ratio is currently 20.92%.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Stifel Nicolaus decreased their target price on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Susquehanna boosted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Citigroup raised their target price on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company lowered their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $215.38.

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.