Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Bangor Savings Bank

Bangor Savings Bank lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,699 shares of the manufacturing equipment provider’s stock after selling 263 shares during the quarter. Bangor Savings Bank’s holdings in Applied Materials were worth $2,716,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in shares of Applied Materials by 29.8% in the 3rd quarter. Van ECK Associates Corp now owns 6,571,178 shares of the manufacturing equipment provider’s stock worth $1,327,707,000 after purchasing an additional 1,509,439 shares during the last quarter. WoodTrust Financial Corp increased its position in Applied Materials by 47.0% in the third quarter. WoodTrust Financial Corp now owns 67,915 shares of the manufacturing equipment provider’s stock worth $13,722,000 after buying an additional 21,699 shares during the period. Victory Capital Management Inc. lifted its stake in 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 valued at $230,158,000 after buying an additional 15,183 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Applied Materials by 8.6% during the fourth quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock valued at $340,895,000 after acquiring an additional 164,085 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Applied Materials by 62.6% during 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 acquiring an additional 653,739 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

AMAT stock opened at $177.48 on Tuesday. The firm has a 50-day moving average of $174.65 and a two-hundred day moving average of $194.22. The firm has a market capitalization of $144.41 billion, a PE ratio of 20.61, a P/E/G ratio of 1.61 and a beta of 1.53. The company has a current ratio of 2.51, a quick ratio of 1.87 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a one year low of $148.24 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.19 by $0.13. The firm had revenue of $7.05 billion during the quarter, compared to analyst estimates of $6.96 billion. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $2.12 EPS. On average, analysts forecast that Applied Materials, Inc. will post 9.48 earnings per share for the current year.

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, February 20th. Applied Materials’s dividend payout ratio is currently 18.58%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AMAT shares. Evercore ISI cut their price objective on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research report on Friday, November 15th. Cantor Fitzgerald reiterated an “overweight” rating and set a $250.00 price objective on shares of Applied Materials in a research report on Friday, November 15th. Mizuho lowered their target price on Applied Materials from $245.00 to $225.00 and set an “outperform” rating on the stock in a research report on Friday, September 20th. Stifel Nicolaus reduced their price target on Applied Materials from $270.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Bank of America lowered their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and an average price target of $220.29.

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.