Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 21,773 shares of the manufacturing equipment provider’s stock after selling 247 shares during the quarter. FineMark National Bank & Trust’s holdings in Applied Materials were worth $3,541,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of AMAT. EdgePoint Investment Group Inc. increased its holdings in shares of Applied Materials by 341.0% in the third quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock valued at $577,288,000 after buying an additional 2,209,218 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of Applied Materials by 67.8% during the third quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock worth $942,187,000 after purchasing an additional 1,884,153 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Applied Materials during the fourth quarter valued at $182,962,000. Alecta Tjanstepension Omsesidigt acquired a new position in shares of Applied Materials in the 4th quarter valued at $157,426,000. Finally, Flossbach Von Storch SE increased its stake in Applied Materials by 126.6% in the 4th quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock worth $260,221,000 after purchasing an additional 893,995 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

NASDAQ AMAT opened at $153.64 on Wednesday. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two week high of $255.89. The stock’s 50-day moving average is $169.60 and its two-hundred day moving average is $177.53. The firm has a market cap of $124.82 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96.

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

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 1.20%. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Applied Materials announced that its board has initiated a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AMAT. Morgan Stanley reiterated an “underweight” rating and issued a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Susquehanna raised their target price on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company dropped their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. The Goldman Sachs Group decreased their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Needham & Company LLC dropped their target price on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Insider Buying and Selling

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

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.