Cumberland Partners Ltd Has $17.16 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Cumberland Partners Ltd reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 105,523 shares of the manufacturing equipment provider’s stock after selling 6,172 shares during the quarter. Applied Materials accounts for about 1.2% of Cumberland Partners Ltd’s holdings, making the stock its 28th biggest holding. Cumberland Partners Ltd’s holdings in Applied Materials were worth $17,161,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Crews Bank & Trust bought a new position in shares of Applied Materials in the fourth quarter worth about $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the 4th quarter worth approximately $32,000. MidAtlantic Capital Management Inc. bought a new position in Applied Materials in the 3rd quarter valued at approximately $37,000. DT Investment Partners LLC boosted its position in Applied Materials by 592.9% in the third 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 in the last quarter. Finally, City Holding Co. bought a new stake in shares of Applied Materials during the fourth quarter worth $39,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on AMAT shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. The Goldman Sachs Group dropped their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Needham & Company LLC reduced 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. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective for the company in a research note on Friday, January 17th. Finally, Citigroup lifted their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Stock Up 1.2 %

Shares of Applied Materials stock opened at $174.06 on Thursday. The stock’s 50-day moving average is $175.39 and its 200 day moving average is $184.05. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89. The firm has a market cap of $141.46 billion, a price-to-earnings ratio of 22.75, a PEG ratio of 1.72 and a beta of 1.53. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities research analysts anticipate that Applied Materials, Inc. will post 9.39 EPS for the current year.

Applied Materials Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, February 20th. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. Applied Materials’s dividend payout ratio is currently 20.92%.

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.