City State Bank Sells 100 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

City State Bank lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.2% in the 4th quarter, Holdings Channel reports. The firm owned 4,387 shares of the manufacturing equipment provider’s stock after selling 100 shares during the period. City State Bank’s holdings in Applied Materials were worth $713,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Forum Financial Management LP increased its position in shares of Applied Materials by 0.6% during the third quarter. Forum Financial Management LP now owns 9,143 shares of the manufacturing equipment provider’s stock worth $1,847,000 after acquiring an additional 53 shares in the last quarter. Merriman Wealth Management LLC increased its position in shares of Applied Materials by 4.0% during the second quarter. Merriman Wealth Management LLC now owns 1,438 shares of the manufacturing equipment provider’s stock worth $339,000 after acquiring an additional 55 shares in the last quarter. Sargent Investment Group LLC increased its position in shares of Applied Materials by 4.0% during the third quarter. Sargent Investment Group LLC now owns 1,415 shares of the manufacturing equipment provider’s stock worth $286,000 after acquiring an additional 55 shares in the last quarter. Biltmore Family Office LLC increased its position in shares of Applied Materials by 5.3% during the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock worth $221,000 after acquiring an additional 55 shares in the last quarter. Finally, waypoint wealth counsel increased its position in shares of Applied Materials by 3.1% during the third quarter. waypoint wealth counsel now owns 1,853 shares of the manufacturing equipment provider’s stock worth $374,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AMAT shares. TD Cowen lowered their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Mizuho lowered their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday. Citigroup decreased their target price on shares of Applied Materials from $240.00 to $217.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and an average price target of $218.24.

Applied Materials Stock Performance

Shares of NASDAQ AMAT traded down $1.15 during mid-day trading on Monday, reaching $170.50. 957,686 shares of the company were exchanged, compared to its average volume of 5,344,015. The company’s 50-day simple moving average is $173.91 and its 200-day simple moving average is $192.62. 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 stock has a market capitalization of $138.73 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.61 and a beta of 1.53. Applied Materials, Inc. has a twelve month low of $149.84 and a twelve month high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The company had revenue of $7.05 billion during 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%. Applied Materials’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company posted $2.12 EPS. As a group, research analysts predict that Applied Materials, Inc. will post 9.48 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Thursday, February 20th. Applied Materials’s dividend payout ratio is 18.58%.

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.