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

Bar Harbor Wealth Management reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 9.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,567 shares of the manufacturing equipment provider’s stock after selling 769 shares during the quarter. Bar Harbor Wealth Management’s holdings in Applied Materials were worth $1,231,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Fairfield Financial Advisors LTD purchased a new stake in shares of Applied Materials during the 2nd quarter worth approximately $28,000. Clean Yield Group purchased a new stake in Applied Materials in the third quarter valued at $33,000. First PREMIER Bank boosted 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 valued at $33,000 after acquiring an additional 124 shares in the last quarter. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials during the third quarter worth about $37,000. Finally, DT Investment Partners LLC lifted 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 purchasing an additional 166 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Price Performance

NASDAQ AMAT traded down $0.74 during mid-day trading on Monday, hitting $170.91. The stock had a trading volume of 3,503,304 shares, compared to its average volume of 5,657,888. The company has a 50 day simple moving average of $173.91 and a 200 day simple moving average of $192.62. The company has a market cap of $139.07 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 1.61 and a beta of 1.53. Applied Materials, Inc. has a 52-week low of $149.84 and a 52-week high of $255.89. The company has a quick ratio of 1.87, a current ratio of 2.51 and a debt-to-equity ratio of 0.29.

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

Applied Materials Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. Applied Materials’s dividend payout ratio (DPR) is 18.58%.

Wall Street Analyst Weigh In

AMAT has been the topic of several research analyst reports. Susquehanna cut their price target on Applied Materials from $190.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, November 11th. TD Cowen reduced their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Wells Fargo & Company dropped their price objective 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. Dbs Bank downgraded shares of Applied Materials from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 16th. Finally, Needham & Company LLC dropped their price target on Applied Materials from $240.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $218.24.

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.