Korea Investment CORP Lowers Position in Applied Materials, Inc. (NASDAQ:AMAT)

Korea Investment CORP lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 11.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 641,328 shares of the manufacturing equipment provider’s stock after selling 82,004 shares during the quarter. Korea Investment CORP’s holdings in Applied Materials were worth $104,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. FPC Investment Advisory Inc. bought a new stake in Applied Materials during the 4th quarter worth approximately $28,000. Crews Bank & Trust bought a new stake in shares of Applied Materials during the 4th quarter valued at $28,000. YANKCOM Partnership purchased a new position in shares of Applied Materials during the 4th quarter valued at $32,000. Dunhill Financial LLC boosted its holdings in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after buying an additional 81 shares during the period. Finally, City Holding Co. purchased a new stake in Applied Materials in the 4th quarter worth $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Stock Down 1.9 %

Shares of AMAT opened at $150.68 on Thursday. The firm has a market capitalization of $122.42 billion, a P/E ratio of 19.70, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 12-month low of $145.37 and a 12-month high of $255.89. The firm has a fifty day moving average price of $169.05 and a 200-day moving average price of $177.34. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS 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 expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its board has approved a stock buyback plan on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is 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 given 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 is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.22%. Applied Materials’s dividend payout ratio is presently 24.05%.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade 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 this link. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Sanford C. Bernstein lowered their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, November 29th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Mizuho cut their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Barclays cut their target price on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. 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 stock has an average rating of “Moderate Buy” and an average 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.