First American Trust FSB Sells 98 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

First American Trust FSB lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,831 shares of the manufacturing equipment provider’s stock after selling 98 shares during the period. First American Trust FSB’s holdings in Applied Materials were worth $460,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Nordea Investment Management AB boosted its stake in Applied Materials by 8.6% in the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock worth $340,895,000 after purchasing an additional 164,085 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Applied Materials by 62.6% in the third quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock valued at $343,138,000 after acquiring an additional 653,739 shares during the period. Pensionfund Sabic grew its stake in Applied Materials by 38.9% during the fourth quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider’s stock valued at $2,147,000 after acquiring an additional 3,700 shares in the last quarter. Brookstone Capital Management increased its holdings in Applied Materials by 59.1% during the 4th quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock worth $7,380,000 after acquiring an additional 16,851 shares during the period. Finally, Advisors Management Group Inc. ADV purchased a new stake in Applied Materials in the 4th quarter worth approximately $339,000. 80.56% of the stock is owned by institutional investors.

Insider Transactions at Applied Materials

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 transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT stock opened at $153.64 on Wednesday. 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 fifty-two week low of $145.37 and a fifty-two week high of $255.89. The firm has a market cap of $124.82 billion, a P/E ratio of 20.08, a P/E/G ratio of 1.81 and a beta of 1.62. The business’s 50 day moving average price is $169.60 and its 200-day moving average price is $177.53.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. On average, equities research analysts anticipate 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 share buyback plan 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 buy up to 8.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The company 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 dividend of $0.46 per share. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.20%. Applied Materials’s dividend payout ratio is 24.05%.

Wall Street Analyst Weigh In

AMAT has been the subject of several research analyst reports. Citigroup lifted their price objective on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Susquehanna raised their target price on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Needham & Company LLC cut their price target on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, The Goldman Sachs Group lowered their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus 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.