Sfmg LLC Cuts Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Sfmg LLC lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 52,443 shares of the manufacturing equipment provider’s stock after selling 2,524 shares during the quarter. Applied Materials comprises approximately 0.7% of Sfmg LLC’s investment portfolio, making the stock its 20th largest holding. Sfmg LLC’s holdings in Applied Materials were worth $8,529,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials in the 4th quarter worth approximately $28,000. YANKCOM Partnership purchased a new stake in Applied Materials during the 4th quarter worth approximately $32,000. City Holding Co. purchased a new stake in Applied Materials during the 4th quarter worth approximately $39,000. Finally, Dunhill Financial LLC grew its position 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 purchasing an additional 81 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

AMAT opened at $152.12 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The firm has a fifty day moving average price of $170.32 and a 200 day moving average price of $177.93. Applied Materials, Inc. has a 1 year low of $145.37 and a 1 year high of $255.89. The stock has a market cap of $123.59 billion, a P/E ratio of 19.88, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities research 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 disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 1.21%. Applied Materials’s dividend payout ratio is currently 24.05%.

Applied Materials declared that its board has authorized a share buyback program on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Citigroup boosted their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Barclays dropped their target price on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Mizuho dropped their target price on shares of 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 restated an “underweight” rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $215.38.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is currently owned by company 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.