Smithbridge Asset Management Inc. DE Decreases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Smithbridge Asset Management Inc. DE cut its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 45,686 shares of the manufacturing equipment provider’s stock after selling 535 shares during the period. Applied Materials comprises approximately 1.7% of Smithbridge Asset Management Inc. DE’s holdings, making the stock its 13th largest position. Smithbridge Asset Management Inc. DE’s holdings in Applied Materials were worth $7,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in AMAT. Financial Freedom LLC bought a new position in Applied Materials in the 4th quarter worth $25,000. CGC Financial Services LLC purchased a new stake in shares of Applied Materials during the 2nd quarter valued at about $29,000. Global Wealth Management Investment Advisory Inc. raised its position in shares of Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Applied Materials during the 3rd quarter valued at about $39,000. Finally, Quarry LP purchased a new stake in shares of Applied Materials during the 1st quarter valued at about $40,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Up 0.0 %

NASDAQ AMAT traded up $0.10 on Wednesday, hitting $206.77. 1,958,538 shares of the stock were exchanged, compared to its average volume of 6,562,898. The company has a 50-day moving average price of $188.20 and a 200-day moving average price of $161.16. Applied Materials, Inc. has a fifty-two week low of $109.00 and a fifty-two week high of $214.91. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31. The company has a market cap of $171.81 billion, a PE ratio of 24.31, a PEG ratio of 3.15 and a beta of 1.59.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. The business had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.48 billion. Applied Materials had a net margin of 27.03% and a return on equity of 43.56%. The business’s revenue was down .4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.03 EPS. Sell-side analysts anticipate that Applied Materials, Inc. will post 8.03 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Shareholders of record on Thursday, May 23rd will be paid a dividend of $0.40 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.32. This represents a $1.60 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 15.06%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of Applied Materials from $185.00 to $245.00 and gave the stock an “outperform” rating in a research report on Friday, February 16th. B. Riley upped their target price on shares of Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Raymond James upped their target price on shares of Applied Materials from $180.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, February 16th. Morgan Stanley upped their target price on shares of Applied Materials from $142.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Finally, The Goldman Sachs Group increased their price objective on shares of Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $191.83.

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.