Applied Materials, Inc. (AMAT) Stake Reduced by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 1.8% during the fourth quarter, Holdings Channel reports. The fund owned 1,670,127 shares of the manufacturing equipment provider’s stock after selling 30,880 shares during the period. State Board of Administration of Florida Retirement System owned about 0.16% of Applied Materials worth $53,895,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. First Interstate Bank raised its stake in shares of Applied Materials by 2.9% in the fourth quarter. First Interstate Bank now owns 3,296 shares of the manufacturing equipment provider’s stock valued at $106,000 after buying an additional 93 shares during the last quarter. First Quadrant L P CA bought a new stake in shares of Applied Materials during the third quarter valued at approximately $103,000. MCF Advisors LLC raised its stake in shares of Applied Materials by 0.3% in the third quarter. MCF Advisors LLC now owns 3,643 shares of the manufacturing equipment provider’s stock valued at $110,000 after buying an additional 12 shares during the last quarter. Jacobus Wealth Management Inc. bought a new stake in shares of Applied Materials during the third quarter valued at approximately $128,000. Finally, Orinda Asset Management LLC bought a new stake in shares of Applied Materials during the third quarter valued at approximately $128,000. 81.64% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

Shares of Applied Materials, Inc. (NASDAQ:AMAT) traded down 0.25% during trading on Friday, reaching $35.32. 11,636,382 shares of the company’s stock traded hands. The company has a 50 day moving average price of $33.81 and a 200 day moving average price of $30.54. The stock has a market capitalization of $38.02 billion, a PE ratio of 22.94 and a beta of 1.81. Applied Materials, Inc. has a 1-year low of $16.15 and a 1-year high of $35.85.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, November 17th. The manufacturing equipment provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.65 by $0.01. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.31 billion. Applied Materials had a return on equity of 28.09% and a net margin of 15.90%. Applied Materials’s revenue for the quarter was up 39.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.29 EPS. On average, equities analysts forecast that Applied Materials, Inc. will post $2.44 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Wednesday, February 22nd will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Friday, February 17th. Applied Materials’s dividend payout ratio (DPR) is presently 25.64%.

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Several brokerages recently commented on AMAT. B. Riley reissued a “buy” rating and issued a $38.00 price target on shares of Applied Materials in a report on Wednesday, November 23rd. Bank of America Corporation set a $35.00 target price on shares of Applied Materials and gave the stock a “buy” rating in a report on Saturday, November 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $36.00 target price (up previously from $34.00) on shares of Applied Materials in a report on Tuesday, December 6th. Vetr raised shares of Applied Materials from a “buy” rating to a “strong-buy” rating and set a $35.25 target price for the company in a report on Thursday, December 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating on shares of Applied Materials in a report on Friday, January 6th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $32.42.

In related news, Director Stephen R. Forrest sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, November 29th. The stock was sold at an average price of $31.86, for a total transaction of $152,928.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Thomas F. Larkins sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 4th. The stock was sold at an average price of $31.94, for a total value of $3,194,000.00. Following the transaction, the vice president now directly owns 482,782 shares in the company, valued at $15,420,057.08. The disclosure for this sale can be found here. Insiders have sold a total of 125,817 shares of company stock worth $4,018,421 over the last three months. 0.31% of the stock is currently owned by corporate insiders.

About Applied Materials

5 Day Chart for NASDAQ:AMAT

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT).

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