APG Asset Management US Inc. Has $3.59 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

APG Asset Management US Inc. reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 22,072 shares of the manufacturing equipment provider’s stock after selling 3,394 shares during the period. APG Asset Management US Inc.’s holdings in Applied Materials were worth $3,590,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Crews Bank & Trust bought a new position in Applied Materials during the 4th quarter worth about $28,000. FPC Investment Advisory Inc. bought a new stake in Applied Materials in the 4th quarter valued at approximately $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials in the fourth quarter worth $32,000. City Holding Co. acquired a new position in Applied Materials during the fourth quarter worth $39,000. Finally, Atala Financial Inc acquired a new stake in Applied Materials in the 4th quarter valued at $45,000. Institutional investors own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Mizuho lowered their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Needham & Company LLC lowered their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Citigroup increased their price objective on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 target price on the stock in a report on Friday, January 17th. Finally, Barclays lowered their price objective on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $214.67.

Applied Materials Trading Down 2.9 %

AMAT opened at $128.96 on Wednesday. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $159.55 and a two-hundred day moving average price of $173.99. The company has a market cap of $104.77 billion, a P/E ratio of 16.86, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89.

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

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is 24.05%.

Applied Materials declared that its Board of Directors has initiated a stock repurchase program on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Applied Materials news, CEO Gary E. Dickerson acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This represents a 3.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the transaction, the chief accounting officer now owns 6,077 shares of the company’s stock, valued at approximately $880,131.91. This trade represents a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company’s stock.

About Applied Materials

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.