Schechter Investment Advisors LLC Decreases Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Schechter Investment Advisors LLC reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.8% in the fourth quarter, Holdings Channel reports. The institutional investor owned 11,712 shares of the manufacturing equipment provider’s stock after selling 1,136 shares during the period. Schechter Investment Advisors LLC’s holdings in Applied Materials were worth $1,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AMAT. Crews Bank & Trust purchased a new stake in shares of Applied Materials in the fourth quarter worth $28,000. FPC Investment Advisory Inc. bought a new position in shares of Applied Materials during the fourth quarter worth $28,000. YANKCOM Partnership bought a new position in shares of Applied Materials during the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of Applied Materials during the third quarter worth $37,000. Finally, City Holding Co. bought a new position in Applied Materials during the fourth quarter valued at $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Applied Materials

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

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $158.07 on Monday. The firm has a market cap of $128.42 billion, a PE ratio of 20.66, a PEG ratio of 1.81 and a beta of 1.53. The firm has a fifty day moving average of $175.38 and a 200 day moving average of $182.77. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials, Inc. has a one year low of $153.95 and a one year high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. As a group, research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 13th. Shareholders of record on Thursday, February 20th will be given 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 1.01%. Applied Materials’s payout ratio is currently 20.92%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley restated an “underweight” rating and issued a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Susquehanna raised their price target on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Evercore ISI reduced their price target on shares of Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a research note on Friday, November 15th. Finally, Wells Fargo & Company reduced their price target 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, January 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.