Applied Materials, Inc. (NASDAQ:AMAT) Position Reduced by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 6.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,752 shares of the manufacturing equipment provider’s stock after selling 182 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Applied Materials were worth $448,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMAT. State Street Corp lifted its holdings in Applied Materials by 1.8% in the 3rd quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock valued at $7,841,178,000 after acquiring an additional 672,548 shares during the last quarter. Geode Capital Management LLC lifted its stake in Applied Materials by 1.9% during the third quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider’s stock valued at $3,994,968,000 after purchasing an additional 371,866 shares during the last quarter. FMR LLC boosted its holdings in Applied Materials by 5.5% during the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock worth $3,316,269,000 after buying an additional 858,122 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Applied Materials by 3.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock worth $1,790,554,000 after buying an additional 318,445 shares during the last quarter. Finally, Van ECK Associates Corp increased its holdings in shares of Applied Materials by 29.8% in the third quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock valued at $1,327,707,000 after buying an additional 1,509,439 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 0.8 %

Shares of NASDAQ:AMAT opened at $180.35 on Monday. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The firm has a fifty day moving average price of $174.48 and a 200 day moving average price of $186.65. 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 stock has a market capitalization of $146.57 billion, a PE ratio of 20.95, a P/E/G ratio of 1.79 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data 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 business had revenue of $7.05 billion for the quarter, compared to analyst estimates of $6.96 billion. During the same quarter in the prior year, the firm posted $2.12 EPS. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders 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 dividend yield of 0.89%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is 18.58%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on AMAT shares. Bank of America reduced their price objective on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a research report on Friday, January 17th. The Goldman Sachs Group lowered their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Mizuho reduced their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Barclays lowered their price target on Applied Materials from $225.00 to $200.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.