Angeles Wealth Management LLC Lowers Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Angeles Wealth Management LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 15.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,558 shares of the manufacturing equipment provider’s stock after selling 281 shares during the period. Angeles Wealth Management LLC’s holdings in Applied Materials were worth $253,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in shares of Applied Materials in the fourth quarter worth $28,000. MidAtlantic Capital Management Inc. purchased a new position in shares of Applied Materials during the third quarter valued at approximately $37,000. DT Investment Partners LLC raised its stake in Applied Materials by 592.9% during the 3rd quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock valued at $39,000 after buying an additional 166 shares during the last quarter. YANKCOM Partnership purchased a new position in shares of Applied Materials in the 4th quarter worth $32,000. Finally, Dunhill Financial LLC grew its holdings in shares of Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares during the period. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMAT shares. Deutsche Bank Aktiengesellschaft lowered their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a report on Friday, November 15th. Stifel Nicolaus dropped their price objective on shares of Applied Materials from $270.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. TD Cowen dropped their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Susquehanna upped their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average target price of $218.71.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $183.66 on Tuesday. The firm has a market cap of $149.26 billion, a price-to-earnings ratio of 21.33, a P/E/G ratio of 1.86 and a beta of 1.53. The firm has a fifty day moving average price of $175.19 and a 200 day moving average price of $185.17. Applied Materials, Inc. has a fifty-two week low of $158.96 and a fifty-two week high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.87 and a current ratio of 2.51.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating 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 return on equity of 39.26% and a net margin of 26.41%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $2.12 earnings per share. As a group, sell-side analysts expect that Applied Materials, Inc. will post 9.38 earnings per share 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. Stockholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. 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 0.87%. Applied Materials’s dividend payout ratio is currently 18.58%.

Applied Materials 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.