Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Leelyn Smith LLC

Leelyn Smith LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,281 shares of the manufacturing equipment provider’s stock after selling 96 shares during the quarter. Applied Materials comprises 0.8% of Leelyn Smith LLC’s portfolio, making the stock its 25th biggest position. Leelyn Smith LLC’s holdings in Applied Materials were worth $4,762,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. RD Lewis Holdings Inc. purchased a new position in Applied Materials in the fourth quarter valued at approximately $582,000. Delphi Management Inc. MA increased its position in shares of Applied Materials by 16.8% in the fourth quarter. Delphi Management Inc. MA now owns 7,305 shares of the manufacturing equipment provider’s stock worth $1,188,000 after acquiring an additional 1,052 shares in the last quarter. Tocqueville Asset Management L.P. raised its stake in shares of Applied Materials by 1.8% in the 4th quarter. Tocqueville Asset Management L.P. now owns 344,063 shares of the manufacturing equipment provider’s stock valued at $55,955,000 after acquiring an additional 6,241 shares during the period. Edgemoor Investment Advisors Inc. lifted its holdings in shares of Applied Materials by 0.7% during the 4th quarter. Edgemoor Investment Advisors Inc. now owns 153,781 shares of the manufacturing equipment provider’s stock valued at $25,010,000 after acquiring an additional 1,019 shares in the last quarter. Finally, Cozad Asset Management Inc. boosted its position in Applied Materials by 8.4% during the 4th quarter. Cozad Asset Management Inc. now owns 3,667 shares of the manufacturing equipment provider’s stock worth $596,000 after purchasing an additional 285 shares during the period. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Price Performance

Shares of NASDAQ:AMAT opened at $155.46 on Tuesday. The company has a market cap of $126.30 billion, a PE ratio of 20.32, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two week high of $255.89. The firm has a 50-day simple moving average of $172.10 and a 200 day simple moving average of $178.88. 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 posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 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%. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.18%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Sanford C. Bernstein reduced their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. The Goldman Sachs Group lowered their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company decreased their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Susquehanna lifted their price target on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $215.38.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of Applied Materials 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 sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.