Hartford Investment Management Co. Lowers Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Hartford Investment Management Co. lowered its holdings in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,349 shares of the manufacturing equipment provider’s stock after selling 2,209 shares during the quarter. Hartford Investment Management Co.’s holdings in Applied Materials were worth $9,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Freedom LLC purchased a new position in shares of Applied Materials in the fourth quarter valued at $25,000. CGC Financial Services LLC bought a new stake in Applied Materials during the second quarter worth approximately $29,000. Global Wealth Management Investment Advisory Inc. increased its stake in Applied Materials by 76.9% during the third quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Applied Materials during the third quarter valued at about $39,000. Finally, Quarry LP purchased a new stake in shares of Applied Materials in the first quarter worth about $40,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AMAT shares. Morgan Stanley raised their price objective on shares of Applied Materials from $142.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Barclays upped their price objective on shares of Applied Materials from $120.00 to $140.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 16th. Bank Of America (Bofa) raised their target price on Applied Materials from $170.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, January 18th. Susquehanna upped their price target on Applied Materials from $138.00 to $160.00 and gave the stock a “neutral” rating in a report on Friday, February 16th. Finally, TD Cowen raised their price objective on Applied Materials from $185.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $191.83.

Read Our Latest Analysis on Applied Materials

Applied Materials Trading Up 1.2 %

NASDAQ:AMAT traded up $2.39 during trading hours on Wednesday, hitting $208.50. The company had a trading volume of 1,301,449 shares, compared to its average volume of 6,400,605. Applied Materials, Inc. has a 1 year low of $109.00 and a 1 year high of $214.91. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average of $193.63 and a 200 day moving average of $163.81. The company has a market cap of $173.24 billion, a P/E ratio of 24.51, a P/E/G ratio of 3.16 and a beta of 1.59.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.23. The company had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $6.48 billion. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. Applied Materials’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.03 earnings per share. Sell-side analysts expect that Applied Materials, Inc. will post 8.03 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be given a $0.40 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 0.77%. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. Applied Materials’s dividend payout ratio is presently 15.06%.

Applied Materials Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMATFree Report).

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.