AIA Group Ltd Reduces Stake in Applied Materials, Inc. (NASDAQ:AMAT)

AIA Group Ltd lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 56.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,204 shares of the manufacturing equipment provider’s stock after selling 9,466 shares during the quarter. AIA Group Ltd’s holdings in Applied Materials were worth $1,172,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. raised its position in Applied Materials by 3.0% during the fourth quarter. Hazlett Burt & Watson Inc. now owns 3,956 shares of the manufacturing equipment provider’s stock valued at $645,000 after acquiring an additional 117 shares in the last quarter. Physician Wealth Advisors Inc. grew its stake in shares of Applied Materials by 4.8% during the 4th quarter. Physician Wealth Advisors Inc. now owns 2,694 shares of the manufacturing equipment provider’s stock worth $438,000 after purchasing an additional 123 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of Applied Materials by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 25,448 shares of the manufacturing equipment provider’s stock valued at $4,504,000 after purchasing an additional 278 shares in the last quarter. Okabena Investment Services Inc. boosted its holdings in Applied Materials by 204.8% during the fourth quarter. Okabena Investment Services Inc. now owns 7,601 shares of the manufacturing equipment provider’s stock worth $1,236,000 after buying an additional 5,107 shares in the last quarter. Finally, Allianz SE acquired a new stake in Applied Materials during the fourth quarter valued at $1,897,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

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 stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now owns 6,479 shares of the company’s stock, 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Susquehanna lifted their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group cut their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Barclays decreased their target price on 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. Wells Fargo & Company cut their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, Needham & Company LLC decreased their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $214.67.

Applied Materials Price Performance

Shares of AMAT opened at $145.12 on Tuesday. 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 stock’s 50 day moving average is $166.39 and its two-hundred day moving average is $176.57. Applied Materials, Inc. has a twelve month low of $141.16 and a twelve month high of $255.89. The firm has a market capitalization of $117.90 billion, a PE ratio of 18.97, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last announced 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 return on equity of 39.50% and a net margin of 22.95%. Research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

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

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is currently 24.05%.

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.