AMF Tjanstepension AB Trims Stake in Applied Materials, Inc. (NASDAQ:AMAT)

AMF Tjanstepension AB lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 55.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,984 shares of the manufacturing equipment provider’s stock after selling 31,494 shares during the quarter. AMF Tjanstepension AB’s holdings in Applied Materials were worth $4,064,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sargent Investment Group LLC increased its stake in Applied Materials by 4.0% in the 3rd quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after buying an additional 55 shares during the period. Biltmore Family Office LLC increased its stake in Applied Materials by 5.3% in the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock worth $221,000 after buying an additional 55 shares during the period. 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 buying an additional 55 shares during the period. Bank of New Hampshire increased its stake in Applied Materials by 0.8% in the 4th quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock worth $1,138,000 after buying an additional 56 shares during the period. Finally, Grove Bank & Trust increased its stake in Applied Materials by 0.8% in the 4th quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock worth $1,202,000 after buying an additional 60 shares during the period. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 2.7 %

AMAT stock opened at $155.68 on Friday. The firm has a 50 day moving average of $173.96 and a 200 day moving average of $181.01. The stock has a market capitalization of $126.48 billion, a PE ratio of 20.35, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52 week low of $149.55 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 analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio (DPR) is presently 20.92%.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AMAT shares. The Goldman Sachs Group reduced their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Mizuho cut 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 report on Friday, January 10th. Citigroup raised their target price on shares of Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. Finally, Susquehanna raised their target price 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus 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.