Cumberland Partners Ltd Has $18.42 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Cumberland Partners Ltd lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 113,660 shares of the manufacturing equipment provider’s stock after selling 715 shares during the quarter. Applied Materials makes up 1.6% of Cumberland Partners Ltd’s holdings, making the stock its 20th biggest position. Cumberland Partners Ltd’s holdings in Applied Materials were worth $18,421,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in AMAT. Global Wealth Management Investment Advisory Inc. raised its stake in Applied Materials by 76.9% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 230 shares of the manufacturing equipment provider’s stock valued at $32,000 after acquiring an additional 100 shares during the period. BluePath Capital Management LLC bought a new position in Applied Materials during the 3rd quarter worth $39,000. MCF Advisors LLC increased its position in Applied Materials by 333.8% during the 3rd quarter. MCF Advisors LLC now owns 295 shares of the manufacturing equipment provider’s stock worth $41,000 after buying an additional 227 shares during the period. L2 Asset Management LLC increased its position in Applied Materials by 795.0% during the 3rd quarter. L2 Asset Management LLC now owns 29,606 shares of the manufacturing equipment provider’s stock worth $41,000 after buying an additional 26,298 shares during the period. Finally, OFI Invest Asset Management bought a new position in Applied Materials during the 3rd quarter worth $42,000. Institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

AMAT has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on Applied Materials in a research report on Thursday, April 11th. They set a “hold” rating and a $225.00 price objective on the stock. Stifel Nicolaus increased their price objective on Applied Materials from $175.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Evercore ISI initiated coverage on Applied Materials in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $260.00 price target on the stock. The Goldman Sachs Group raised their price target on Applied Materials from $156.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Cantor Fitzgerald upgraded Applied Materials from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $220.00 to $260.00 in a research report on Monday, April 8th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus price target of $201.50.

Applied Materials Trading Up 2.0 %

Shares of AMAT traded up $3.78 during mid-day trading on Tuesday, reaching $193.24. 4,417,284 shares of the company were exchanged, compared to its average volume of 6,192,854. Applied Materials, Inc. has a 52 week low of $109.15 and a 52 week high of $214.91. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.91 and a current ratio of 2.71. The stock has a market capitalization of $160.56 billion, a PE ratio of 22.73, a PEG ratio of 2.84 and a beta of 1.59. The business has a 50 day simple moving average of $202.94 and a two-hundred day simple moving average of $170.76.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, February 15th. The manufacturing equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.71 billion during the quarter, compared to the consensus estimate of $6.48 billion. During the same period last year, the company earned $2.03 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. On average, analysts predict that Applied Materials, Inc. will post 8.04 earnings per share 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 0.83%. 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%.

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.