Fortitude Advisory Group L.L.C. Lowers Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Fortitude Advisory Group L.L.C. reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,151 shares of the manufacturing equipment provider’s stock after selling 105 shares during the quarter. Fortitude Advisory Group L.L.C.’s holdings in Applied Materials were worth $350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Clean Yield Group bought a new stake in shares of Applied Materials in the 3rd quarter worth about $33,000. First PREMIER Bank lifted its stake in Applied Materials by 326.3% in the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock worth $33,000 after acquiring an additional 124 shares during the period. MidAtlantic Capital Management Inc. bought a new position in shares of Applied Materials during the third quarter valued at approximately $37,000. DT Investment Partners LLC increased its holdings in shares of Applied Materials by 592.9% in the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after acquiring an additional 166 shares during the period. Finally, City Holding Co. bought a new position in Applied Materials in the fourth quarter worth about $39,000. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Down 6.5 %

Applied Materials stock opened at $174.57 on Tuesday. The stock’s fifty day moving average is $174.00 and its two-hundred day moving average is $188.61. The stock has a market cap of $142.04 billion, a PE ratio of 20.28, a P/E/G ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a 1-year low of $158.96 and a 1-year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.13. Applied Materials had a return on equity of 39.26% and a net margin of 26.41%. The firm had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same quarter in the previous year, the business earned $2.12 earnings per share. The firm’s revenue was up 4.8% compared to the same quarter last year. On average, sell-side analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. Applied Materials’s dividend payout ratio (DPR) is presently 18.58%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. TD Cowen lowered their price objective on Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. The Goldman Sachs Group decreased their price objective 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. 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. Wells Fargo & Company lowered their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Finally, Evercore ISI dropped their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. One equities research 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, the stock presently has an average rating of “Moderate Buy” and an average 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.