Tredje AP fonden Reduces Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Tredje AP fonden lowered its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 266,881 shares of the manufacturing equipment provider’s stock after selling 6,668 shares during the quarter. Tredje AP fonden’s holdings in Applied Materials were worth $43,403,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. State Street Corp boosted its stake in shares of Applied Materials by 1.8% during the third quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock valued at $7,841,178,000 after acquiring an additional 672,548 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Applied Materials by 1.9% during the third quarter. Geode Capital Management LLC now owns 19,826,373 shares of the manufacturing equipment provider’s stock valued at $3,994,968,000 after acquiring an additional 371,866 shares during the last quarter. FMR LLC boosted its stake in shares of Applied Materials by 5.5% during the third quarter. FMR LLC now owns 16,413,112 shares of the manufacturing equipment provider’s stock valued at $3,316,269,000 after acquiring an additional 858,122 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Applied Materials by 3.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,861,933 shares of the manufacturing equipment provider’s stock valued at $1,790,554,000 after acquiring an additional 318,445 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Applied Materials by 1.3% during the fourth quarter. Van ECK Associates Corp now owns 6,655,308 shares of the manufacturing equipment provider’s stock valued at $1,082,353,000 after acquiring an additional 84,130 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT opened at $149.06 on Thursday. The company has a market cap of $121.10 billion, a P/E ratio of 19.48, a PEG ratio of 1.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials, Inc. has a one year low of $145.37 and a one year high of $255.89. The business’s 50-day simple moving average is $173.10 and its 200 day simple moving average is $179.85.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its board has initiated a stock repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The business also recently announced 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. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 20.92%.

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Needham & Company LLC decreased their price objective 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. Citigroup raised their price target on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Mizuho decreased their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Bank of America decreased their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a research note on Friday, November 15th. Finally, Susquehanna raised their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

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.