Murphy Pohlad Asset Management LLC Trims Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Murphy Pohlad Asset Management LLC lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,525 shares of the manufacturing equipment provider’s stock after selling 355 shares during the quarter. Murphy Pohlad Asset Management LLC’s holdings in Applied Materials were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of AMAT. Van ECK Associates Corp grew its holdings in Applied Materials by 29.8% during 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 purchasing an additional 1,509,439 shares during the period. Nordea Investment Management AB increased its holdings in Applied Materials by 8.6% in the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock worth $340,895,000 after acquiring an additional 164,085 shares in the last quarter. WoodTrust Financial Corp lifted its holdings in Applied Materials by 47.0% during the third quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock valued at $13,722,000 after purchasing an additional 21,699 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Applied Materials by 1.4% in the third quarter. Victory Capital Management Inc. now owns 1,139,114 shares of the manufacturing equipment provider’s stock worth $230,158,000 after purchasing an additional 15,183 shares during the period. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Applied Materials by 62.6% in the third quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock worth $343,138,000 after purchasing an additional 653,739 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Up 1.4 %

Shares of NASDAQ:AMAT opened at $175.28 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87. The business has a 50 day simple moving average of $174.15 and a two-hundred day simple moving average of $187.64. Applied Materials, Inc. has a 1 year low of $158.96 and a 1 year high of $255.89. The firm has a market capitalization of $142.45 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 1.99 and a beta of 1.53.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, beating the consensus estimate of $2.19 by $0.13. The company had revenue of $7.05 billion for the quarter, compared to the consensus estimate of $6.96 billion. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. Applied Materials’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.12 EPS. On average, equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be paid a $0.40 dividend. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. Applied Materials’s dividend payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Mizuho cut their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, January 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research note on Friday, November 15th. Needham & Company LLC dropped their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, November 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research report on Friday, November 15th. Finally, The Goldman Sachs Group cut their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $218.71.

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.