Angeles Wealth Management LLC Sells 281 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Angeles Wealth Management LLC reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 15.3% during the 4th quarter, HoldingsChannel reports. The fund owned 1,558 shares of the manufacturing equipment provider’s stock after selling 281 shares during the period. Angeles Wealth Management LLC’s holdings in Applied Materials were worth $253,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Crews Bank & Trust bought a new position in shares of Applied Materials during the 4th quarter valued at approximately $28,000. YANKCOM Partnership bought a new position in Applied Materials during the fourth quarter valued at $32,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials in the third quarter valued at $37,000. DT Investment Partners LLC lifted its holdings in shares of Applied Materials by 592.9% in 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 during the last quarter. Finally, City Holding Co. purchased a new position in shares of Applied Materials during the 4th quarter worth about $39,000. 80.56% of the stock is owned by institutional investors.

Applied Materials Price Performance

Shares of AMAT stock opened at $183.66 on Tuesday. The stock’s 50-day moving average is $175.19 and its 200 day moving average is $185.17. Applied Materials, Inc. has a 1-year low of $158.96 and a 1-year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The company has a market cap of $149.26 billion, a P/E ratio of 21.33, a PEG ratio of 1.86 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last released its quarterly 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 business had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same period last year, the business earned $2.12 EPS. Research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.87%. Applied Materials’s dividend payout ratio is presently 18.58%.

Analyst Ratings Changes

A number of analysts recently weighed in on AMAT shares. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Susquehanna raised their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. The Goldman Sachs Group lowered their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Evercore ISI reduced their price target on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target 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.