Applied Materials, Inc. (NASDAQ:AMAT) Position Reduced by Accredited Investors Inc.

Accredited Investors Inc. lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 42.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,730 shares of the manufacturing equipment provider’s stock after selling 2,028 shares during the period. Accredited Investors Inc.’s holdings in Applied Materials were worth $444,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Continuum Advisory LLC lifted its stake in Applied Materials by 25.2% in the third quarter. Continuum Advisory LLC now owns 1,035 shares of the manufacturing equipment provider’s stock valued at $193,000 after acquiring an additional 208 shares during the last quarter. Brophy Wealth Management LLC acquired a new position in shares of Applied Materials in the third quarter valued at $374,000. MidWestOne Financial Group Inc. increased its stake in Applied Materials by 4.3% in the third quarter. MidWestOne Financial Group Inc. now owns 5,311 shares of the manufacturing equipment provider’s stock valued at $1,073,000 after acquiring an additional 218 shares during the period. Coldstream Capital Management Inc. boosted its stake in Applied Materials by 10.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 20,919 shares of the manufacturing equipment provider’s stock valued at $4,194,000 after buying an additional 1,952 shares in the last quarter. Finally, Arete Wealth Advisors LLC increased its position in shares of Applied Materials by 9.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 7,165 shares of the manufacturing equipment provider’s stock worth $1,431,000 after purchasing an additional 638 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 4.5 %

NASDAQ AMAT opened at $143.04 on Thursday. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89. The firm has a market capitalization of $116.21 billion, a price-to-earnings ratio of 18.70, a PEG ratio of 1.81 and a beta of 1.61. 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 company has a fifty day moving average of $158.30 and a two-hundred day moving average of $173.51.

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, topping 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%. On average, analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials declared that its Board of Directors has authorized a stock buyback program on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.29%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Insider Activity at Applied Materials

In related news, CEO Gary E. Dickerson acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The shares were bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction 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 represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMAT shares. The Goldman Sachs Group reduced their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Stifel Nicolaus lowered their target price on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target on the stock in a research note on Friday, January 17th. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a research note on Friday, March 28th. Finally, Needham & Company LLC cut their target price on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.67.

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.