Osborne Partners Capital Management LLC Sells 230 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Osborne Partners Capital Management LLC decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,804 shares of the manufacturing equipment provider’s stock after selling 230 shares during the quarter. Osborne Partners Capital Management LLC’s holdings in Applied Materials were worth $293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of AMAT. Clean Yield Group purchased a new stake in Applied Materials in the 3rd quarter valued at about $33,000. First PREMIER Bank boosted its holdings in shares of 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 purchasing an additional 124 shares during the period. Crews Bank & Trust bought a new position in Applied Materials in the fourth quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials during the 3rd quarter worth $37,000. Finally, DT Investment Partners LLC raised its position in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after purchasing an additional 166 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Trading Down 0.8 %

Applied Materials stock opened at $180.35 on Monday. Applied Materials, Inc. has a 52 week low of $158.96 and a 52 week high of $255.89. The stock has a 50-day moving average price of $174.48 and a 200 day moving average price of $186.65. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $146.57 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.79 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. During the same period in the prior year, the firm earned $2.12 EPS. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business 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 dividend yield of 0.89%. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Evercore ISI cut their target price 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. Bank of America lowered their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, November 15th. TD Cowen cut their price objective 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, Barclays lowered their target price on Applied Materials from $225.00 to $200.00 and set an “equal weight” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $218.71.

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.