Riverstone Advisors LLC Sells 168 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Riverstone Advisors LLC lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,979 shares of the manufacturing equipment provider’s stock after selling 168 shares during the period. Applied Materials comprises about 0.9% of Riverstone Advisors LLC’s portfolio, making the stock its 20th biggest holding. Riverstone Advisors LLC’s holdings in Applied Materials were worth $1,455,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Financial Freedom LLC acquired a new position in Applied Materials during the fourth quarter worth approximately $25,000. Global Wealth Management Investment Advisory Inc. increased its holdings in shares of Applied Materials by 76.9% during the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. BluePath Capital Management LLC bought a new stake in Applied Materials in the 3rd quarter valued at $39,000. Quarry LP acquired a new stake in Applied Materials during the 1st quarter valued at $40,000. Finally, RVW Wealth LLC bought a new position in Applied Materials during the third quarter worth $41,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Trading Up 1.5 %

Shares of AMAT stock traded up $3.00 during mid-day trading on Tuesday, reaching $208.68. 1,903,384 shares of the stock traded hands, compared to its average volume of 6,170,413. The stock’s fifty day simple moving average is $200.72 and its two-hundred day simple moving average is $168.34. Applied Materials, Inc. has a 1-year low of $109.00 and a 1-year high of $214.91. The company has a market cap of $173.39 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 3.11 and a beta of 1.59. The company has a quick ratio of 1.91, a current ratio of 2.71 and a debt-to-equity ratio of 0.31.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 15th. The manufacturing equipment provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.23. Applied Materials had a return on equity of 43.56% and a net margin of 27.03%. The firm had revenue of $6.71 billion for the quarter, compared to analyst estimates of $6.48 billion. During the same period last year, the firm posted $2.03 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. On average, research analysts anticipate that Applied Materials, Inc. will post 8.04 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.77%. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is 15.06%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald upgraded shares of Applied Materials from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $220.00 to $260.00 in a research note on Monday, April 8th. Stifel Nicolaus raised their price objective on shares of Applied Materials from $175.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. The Goldman Sachs Group upped their target price on Applied Materials from $156.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, February 16th. UBS Group lifted their price target on Applied Materials from $185.00 to $235.00 and gave the stock a “neutral” rating in a report on Tuesday, March 5th. Finally, Evercore ISI assumed coverage on Applied Materials in a report on Tuesday. They issued an “outperform” rating and a $260.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $201.50.

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.