Pitcairn Co. Sells 1,974 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Pitcairn Co. cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 20.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,847 shares of the manufacturing equipment provider’s stock after selling 1,974 shares during the quarter. Pitcairn Co.’s holdings in Applied Materials were worth $1,585,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in shares of Applied Materials in the second quarter worth $26,000. Fairfield Financial Advisors LTD bought a new position in shares of Applied Materials in the second quarter worth approximately $28,000. Clean Yield Group bought a new position in shares of Applied Materials in the third quarter worth approximately $33,000. First PREMIER Bank grew its position in Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the last quarter. Finally, PSI Advisors LLC grew its position in Applied Materials by 56.0% during the second quarter. PSI Advisors LLC now owns 156 shares of the manufacturing equipment provider’s stock valued at $37,000 after acquiring an additional 56 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Applied Materials Stock Performance

NASDAQ AMAT opened at $174.88 on Friday. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. The business’s 50 day moving average is $189.83 and its two-hundred day moving average is $205.72. Applied Materials, Inc. has a 12-month low of $144.57 and a 12-month high of $255.89. The stock has a market capitalization of $144.17 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 1.65 and a beta of 1.56.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating analysts’ consensus estimates of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion for the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the prior year, the firm earned $2.12 EPS. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. Research analysts expect that Applied Materials, Inc. will post 9.5 EPS for the current year.

Applied Materials Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.91%. The ex-dividend date is Thursday, November 21st. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Analyst Ratings Changes

A number of analysts recently commented on the company. JPMorgan Chase & Co. raised their price target on Applied Materials from $240.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 16th. Evercore ISI reduced their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a report on Friday, November 15th. Morgan Stanley reduced their price objective on Applied Materials from $185.00 to $179.00 and set an “equal weight” rating for the company in a report on Friday, November 15th. Wells Fargo & Company cut their price target on Applied Materials from $235.00 to $220.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $222.05.

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.