Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Gilman Hill Asset Management LLC

Gilman Hill Asset Management LLC trimmed its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,443 shares of the manufacturing equipment provider’s stock after selling 1,615 shares during the period. Gilman Hill Asset Management LLC’s holdings in Applied Materials were worth $1,614,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new stake in shares of Applied Materials during the 3rd quarter valued at approximately $29,000. Horan Capital Advisors LLC. acquired a new position in shares of Applied Materials during the 3rd quarter worth approximately $39,000. Investors Research Corp raised its position in shares of Applied Materials by 54.0% during the 3rd quarter. Investors Research Corp now owns 844 shares of the manufacturing equipment provider’s stock worth $42,000 after purchasing an additional 296 shares during the last quarter. Citizens Financial Group Inc RI raised its position in shares of Applied Materials by 94.1% during the 3rd quarter. Citizens Financial Group Inc RI now owns 920 shares of the manufacturing equipment provider’s stock worth $46,000 after purchasing an additional 446 shares during the last quarter. Finally, Corbenic Partners LLC acquired a new position in shares of Applied Materials during the 4th quarter worth approximately $50,000. Institutional investors own 79.70% of the company’s stock.

In other news, SVP Prabu G. Raja sold 50,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $60.73, for a total transaction of $3,036,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary E. Dickerson sold 1,000,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $61.11, for a total transaction of $61,110,000.00. The disclosure for this sale can be found here. Insiders sold a total of 1,053,000 shares of company stock valued at $64,335,080 over the last ninety days. 0.44% of the stock is owned by corporate insiders.

Several research analysts recently issued reports on AMAT shares. Morgan Stanley lifted their price objective on Applied Materials from $61.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. Argus restated a “buy” rating and set a $72.00 price objective on shares of Applied Materials in a research report on Monday, November 18th. They noted that the move was a valuation call. Susquehanna Bancshares restated a “buy” rating and set a $80.00 price objective (up from $70.00) on shares of Applied Materials in a research report on Friday, November 15th. ICAP upgraded Applied Materials from a “neutral” rating to a “buy” rating in a research report on Friday, January 10th. Finally, Deutsche Bank lifted their price objective on Applied Materials from $47.00 to $52.00 and gave the stock a “hold” rating in a research report on Thursday, October 10th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $64.10.

AMAT stock traded down $0.12 during midday trading on Friday, hitting $63.09. The stock had a trading volume of 1,439,670 shares, compared to its average volume of 6,090,225. The firm has a market cap of $57.07 billion, a PE ratio of 20.75, a price-to-earnings-growth ratio of 2.02 and a beta of 1.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.30 and a quick ratio of 1.51. Applied Materials, Inc. has a 12-month low of $33.25 and a 12-month high of $63.54. The company’s 50-day moving average price is $60.03 and its 200 day moving average price is $52.95.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $0.80 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.04. The firm had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.68 billion. Applied Materials had a net margin of 18.52% and a return on equity of 35.13%. Applied Materials’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 3.77 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 11th. Shareholders of record on Wednesday, February 19th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $0.84 annualized dividend and a yield of 1.33%. Applied Materials’s payout ratio is currently 27.63%.

Applied Materials Company Profile

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

Further Reading: What does an equal weight rating mean?

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

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