Trust Co of Kansas Cuts Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Trust Co of Kansas lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 6.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 2,646 shares of the manufacturing equipment provider’s stock after selling 170 shares during the quarter. Trust Co of Kansas’ holdings in Applied Materials were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the business. Clean Yield Group acquired a new stake in shares of Applied Materials in the third quarter valued at about $33,000. First PREMIER Bank increased its holdings in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after buying an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials during the 3rd quarter valued at approximately $37,000. DT Investment Partners LLC boosted its stake in shares of Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after acquiring an additional 166 shares in the last quarter. Finally, Dunhill Financial LLC grew its holdings in shares of Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $192.05 on Friday. Applied Materials, Inc. has a fifty-two week low of $156.78 and a fifty-two week high of $255.89. The firm’s 50 day moving average is $173.10 and its two-hundred day moving average is $191.61. The company has a market cap of $156.27 billion, a P/E ratio of 22.31, a P/E/G ratio of 1.75 and a beta of 1.53. 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 (NASDAQ:AMAT) last issued its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.12 earnings per share. Analysts expect that Applied Materials, Inc. will post 9.37 EPS for the current year.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Morgan Stanley reiterated an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Evercore ISI decreased their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. The Goldman Sachs Group dropped their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. TD Cowen reduced their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Needham & Company LLC dropped their price objective on shares of Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given 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 price target of $217.41.

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.