Rakuten Securities Inc. Sells 450 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Rakuten Securities Inc. trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 32.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 930 shares of the manufacturing equipment provider’s stock after selling 450 shares during the quarter. Rakuten Securities Inc.’s holdings in Applied Materials were worth $151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Essential Planning LLC. acquired a new stake in Applied Materials during the 4th quarter worth $3,364,000. Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD bought a new stake in shares of Applied Materials in the fourth quarter worth about $8,698,000. Kranot Hishtalmut Le Morim Tichoniim Havera Menahelet LTD acquired a new stake in shares of Applied Materials during the fourth quarter worth about $2,985,000. Farther Finance Advisors LLC lifted its holdings in shares of Applied Materials by 6.3% during the 4th quarter. Farther Finance Advisors LLC now owns 7,833 shares of the manufacturing equipment provider’s stock valued at $1,274,000 after purchasing an additional 465 shares in the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in shares of Applied Materials by 29.2% in the 4th quarter. Sequoia Financial Advisors LLC now owns 38,220 shares of the manufacturing equipment provider’s stock valued at $6,216,000 after purchasing an additional 8,630 shares during the period. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on AMAT shares. TD Cowen cut their price target on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Needham & Company LLC reduced their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Stifel Nicolaus dropped their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Edward Jones upgraded Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Stock Performance

NASDAQ AMAT opened at $149.06 on Thursday. Applied Materials, Inc. has a 12-month low of $145.37 and a 12-month high of $255.89. The firm has a 50-day moving average price of $173.10 and a two-hundred day moving average price of $179.85. The company has a market capitalization of $121.10 billion, a P/E ratio of 19.48, a P/E/G ratio of 1.81 and a beta of 1.62. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current 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 given a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.23%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is presently 20.92%.

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

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

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.