Global Retirement Partners LLC Has $1.39 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Global Retirement Partners LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,544 shares of the manufacturing equipment provider’s stock after selling 89 shares during the period. Global Retirement Partners LLC’s holdings in Applied Materials were worth $1,389,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Plan Group Financial LLC boosted its position in Applied Materials by 4.7% in the fourth quarter. Plan Group Financial LLC now owns 2,402 shares of the manufacturing equipment provider’s stock valued at $391,000 after buying an additional 108 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in Applied Materials in the fourth quarter valued at approximately $589,000. New York State Common Retirement Fund raised its stake in shares of Applied Materials by 0.4% during the fourth quarter. New York State Common Retirement Fund now owns 1,125,014 shares of the manufacturing equipment provider’s stock valued at $182,961,000 after acquiring an additional 4,849 shares during the last quarter. Callahan Advisors LLC raised its stake in shares of Applied Materials by 1.0% during the fourth quarter. Callahan Advisors LLC now owns 75,287 shares of the manufacturing equipment provider’s stock valued at $12,244,000 after acquiring an additional 761 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund raised its stake in shares of Applied Materials by 74.0% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 42,644 shares of the manufacturing equipment provider’s stock valued at $6,935,000 after acquiring an additional 18,130 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on AMAT. Barclays dropped their price target on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, November 15th. Susquehanna raised their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Bank of America dropped their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research note on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Applied Materials currently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Trading Down 2.3 %

AMAT opened at $171.98 on Friday. Applied Materials, Inc. has a 1-year low of $158.96 and a 1-year high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a market cap of $139.77 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 1.83 and a beta of 1.53. The company has a fifty day moving average price of $175.59 and a two-hundred day moving average price of $183.92.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 20.92%.

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.