Kentucky Retirement Systems Sells 783 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Kentucky Retirement Systems lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,898 shares of the manufacturing equipment provider’s stock after selling 783 shares during the quarter. Kentucky Retirement Systems’ holdings in Applied Materials were worth $9,253,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in AMAT. Forum Financial Management LP grew its stake in shares of 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 valued at $1,847,000 after buying an additional 53 shares in the last quarter. Sargent Investment Group LLC lifted 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 purchasing an additional 55 shares during the last quarter. Biltmore Family Office LLC lifted its holdings 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 valued at $221,000 after purchasing an additional 55 shares during the last quarter. Field & Main Bank lifted its holdings in Applied Materials by 1.8% during the 4th quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after purchasing an additional 55 shares during the last quarter. Finally, BSW Wealth Partners lifted its holdings in Applied Materials by 1.3% during the 3rd 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. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $176.04 on Friday. The stock has a market cap of $143.07 billion, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 1.82 and a beta of 1.53. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock’s 50-day moving average is $175.45 and its 200-day moving average is $183.98. Applied Materials, Inc. has a 1-year low of $158.96 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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 9.41 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is currently 20.92%.

Analyst Ratings Changes

Several brokerages have issued reports on AMAT. Needham & Company LLC cut their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, February 14th. TD Cowen dropped their price target on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Susquehanna boosted their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Bank of America dropped their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

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.