Tilt Investment Management Holdings PBC Trims Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Tilt Investment Management Holdings PBC decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 24.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,391 shares of the manufacturing equipment provider’s stock after selling 1,109 shares during the period. Tilt Investment Management Holdings PBC’s holdings in Applied Materials were worth $550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in AMAT. Financial Freedom LLC purchased a new position in Applied Materials in the fourth quarter worth approximately $25,000. Global Wealth Management Investment Advisory Inc. lifted its stake in shares of Applied Materials by 76.9% in 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 purchasing an additional 100 shares during the last quarter. BluePath Capital Management LLC purchased a new position in shares of Applied Materials during the 3rd quarter worth $39,000. Quarry LP acquired a new stake in shares of Applied Materials during the 1st quarter worth about $40,000. Finally, RVW Wealth LLC purchased a new stake in Applied Materials in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMAT. Raymond James increased 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. Susquehanna lifted their target price on shares of Applied Materials from $138.00 to $160.00 and gave the company a “neutral” rating in a report on Friday, February 16th. Morgan Stanley upped their price target on Applied Materials from $142.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Deutsche Bank Aktiengesellschaft initiated coverage on Applied Materials in a research note on Thursday, April 11th. They issued a “hold” rating and a $225.00 price objective for the company. Finally, B. Riley increased their target price on Applied Materials from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and an average price target of $201.50.

Applied Materials Stock Down 2.7 %

Shares of AMAT stock traded down $5.38 on Thursday, reaching $194.51. 3,956,417 shares of the stock were exchanged, compared to its average volume of 6,169,328. The company has a market capitalization of $161.62 billion, a price-to-earnings ratio of 22.99, a PEG ratio of 3.13 and a beta of 1.59. The business’s 50 day moving average price is $202.12 and its 200 day moving average price is $169.06. The company has a current ratio of 2.71, a quick ratio of 1.91 and a debt-to-equity ratio of 0.31. Applied Materials, Inc. has a twelve month low of $109.12 and a twelve month high of $214.91.

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, topping analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The company had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same period in the previous year, the business earned $2.03 EPS. Applied Materials’s revenue for the quarter was down .4% on a year-over-year basis. As a group, sell-side analysts expect that Applied Materials, Inc. will post 8.04 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 13th. Investors of record on Thursday, May 23rd will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.82%. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Wednesday, May 22nd. Applied Materials’s dividend payout ratio is 15.06%.

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.