Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Intrust Bank NA

Intrust Bank NA reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,553 shares of the manufacturing equipment provider’s stock after selling 537 shares during the period. Intrust Bank NA’s holdings in Applied Materials were worth $2,367,000 as of its most recent filing with the Securities and Exchange Commission.

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

Applied Materials Stock Down 1.8 %

Applied Materials stock opened at $145.06 on Friday. 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 market capitalization of $117.85 billion, a P/E ratio of 18.96, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 1-year low of $144.12 and a 1-year high of $255.89. The firm’s fifty day simple moving average is $167.33 and its 200-day simple moving average is $176.91.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Applied Materials announced that its Board of Directors has approved a share repurchase program on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

AMAT has been the topic of several recent research reports. 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. The Goldman Sachs Group dropped their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company reduced their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Mizuho cut 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. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.67.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the 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 approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.

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.