Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% during the fourth quarter, Holdings Channel reports. The fund owned 14,454 shares of the manufacturing equipment provider’s stock after selling 140 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Applied Materials were worth $2,351,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Crews Bank & Trust purchased a new stake in Applied Materials during the 4th quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials during the fourth quarter worth about $28,000. YANKCOM Partnership acquired a new stake in Applied Materials in the fourth quarter valued at approximately $32,000. City Holding Co. purchased a new position in Applied Materials in the fourth quarter worth approximately $39,000. Finally, Dunhill Financial LLC grew its holdings in Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of AMAT stock opened at $153.64 on Wednesday. The stock’s 50-day moving average price is $169.60 and its 200 day moving average price is $177.53. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $124.82 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 52-week low of $145.37 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (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%. As a group, equities research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

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

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.20%. 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 dividend payout ratio (DPR) is 24.05%.

Insider Activity

In related 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 completion of the sale, the chief accounting officer now owns 6,479 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on AMAT shares. The Goldman Sachs Group reduced their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Susquehanna lifted their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Wells Fargo & Company dropped their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Stifel Nicolaus decreased their target price on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Mizuho cut their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

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.