Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Fingerlakes Wealth Management Inc.

Fingerlakes Wealth Management Inc. reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,771 shares of the manufacturing equipment provider’s stock after selling 196 shares during the quarter. Fingerlakes Wealth Management Inc.’s holdings in Applied Materials were worth $1,101,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Bryn Mawr Capital Management LLC increased its holdings in shares of Applied Materials by 203.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 41,039 shares of the manufacturing equipment provider’s stock valued at $6,674,000 after purchasing an additional 27,523 shares during the period. Private Advisor Group LLC increased its stake in Applied Materials by 20.6% during the 4th quarter. Private Advisor Group LLC now owns 37,263 shares of the manufacturing equipment provider’s stock valued at $6,060,000 after buying an additional 6,365 shares during the period. Plan Group Financial LLC raised its position in shares of Applied Materials by 4.7% during the 4th quarter. Plan Group Financial LLC now owns 2,402 shares of the manufacturing equipment provider’s stock worth $391,000 after buying an additional 108 shares in the last quarter. Bank of Jackson Hole Trust acquired a new stake in shares of Applied Materials in the 4th quarter worth approximately $589,000. Finally, New York State Common Retirement Fund boosted its holdings in shares of Applied Materials by 0.4% in 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 in the last quarter. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on AMAT. Mizuho cut their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. The Goldman Sachs Group decreased their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Sanford C. Bernstein dropped their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Susquehanna raised their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Bank of America dropped their target price on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. 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. According to MarketBeat.com, Applied Materials presently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Price Performance

NASDAQ AMAT opened at $174.06 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The firm has a market capitalization of $141.46 billion, a price-to-earnings ratio of 22.75, a price-to-earnings-growth ratio of 1.72 and a beta of 1.53. The company has a 50 day simple moving average of $175.39 and a 200-day simple moving average of $184.05. Applied Materials, Inc. has a 52-week low of $158.96 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities research analysts predict that Applied Materials, Inc. will post 9.39 earnings per share for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s payout ratio is currently 20.92%.

About Applied Materials

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.