E Fund Management Co. Ltd. Has $14.93 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

E Fund Management Co. Ltd. lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 31.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 91,827 shares of the manufacturing equipment provider’s stock after selling 43,082 shares during the quarter. Applied Materials comprises 0.7% of E Fund Management Co. Ltd.’s investment portfolio, making the stock its 23rd biggest position. E Fund Management Co. Ltd.’s holdings in Applied Materials were worth $14,934,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Crews Bank & Trust acquired a new position in Applied Materials during the fourth quarter worth about $28,000. FPC Investment Advisory Inc. bought a new stake in shares of Applied Materials during the fourth quarter worth about $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials during the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Applied Materials during the third quarter worth about $37,000. Finally, City Holding Co. bought a new stake in shares of Applied Materials during the fourth quarter worth about $39,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Up 1.6 %

Shares of NASDAQ:AMAT opened at $155.32 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 company has a market capitalization of $126.19 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53. Applied Materials, Inc. has a 1 year low of $149.55 and a 1 year high of $255.89. The business has a fifty day moving average price of $174.50 and a two-hundred day moving average price of $181.78.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The business also recently declared 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 of this dividend is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a yield of 1.03%. Applied Materials’s dividend payout ratio (DPR) is currently 20.92%.

Insiders Place Their Bets

In other news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on AMAT shares. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Stifel Nicolaus reduced their target price on Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Needham & Company LLC cut their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Evercore ISI cut their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Finally, Barclays cut their price target on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $215.38.

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.