Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Atlas Capital Advisors Inc.

Atlas Capital Advisors Inc. reduced its position in Applied Materials, Inc. (NASDAQ:AMAT) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,776 shares of the manufacturing equipment provider’s stock after selling 143 shares during the period. Atlas Capital Advisors Inc.’s holdings in Applied Materials were worth $2,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Field & Main Bank increased its stake in Applied Materials by 1.8% in the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after purchasing an additional 55 shares during the last quarter. Bank of New Hampshire boosted its holdings in shares of Applied Materials by 0.8% in the 4th quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock valued at $1,138,000 after buying an additional 56 shares in the last quarter. Grove Bank & Trust grew its position in shares of Applied Materials by 0.8% in the 4th quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock valued at $1,202,000 after buying an additional 60 shares during the last quarter. Cyndeo Wealth Partners LLC raised its stake in Applied Materials by 0.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock worth $2,375,000 after acquiring an additional 60 shares in the last quarter. Finally, Mezzasalma Advisors LLC lifted its position in Applied Materials by 3.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock valued at $335,000 after acquiring an additional 60 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Trading Down 8.3 %

NASDAQ:AMAT opened at $135.51 on Friday. Applied Materials, Inc. has a 1 year low of $135.40 and a 1 year high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The stock has a fifty day moving average price of $163.39 and a two-hundred day moving average price of $175.79. The stock has a market capitalization of $110.09 billion, a price-to-earnings ratio of 17.71, a PEG ratio of 1.81 and a beta of 1.61.

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

Applied Materials announced that its Board of Directors has approved a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are 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 paid a dividend of $0.46 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.36%. Applied Materials’s payout ratio is 24.05%.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 450 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now directly owns 6,077 shares in the company, valued at approximately $880,131.91. The trade was a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on AMAT shares. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Friday, March 28th. Needham & Company LLC cut their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Wells Fargo & Company reduced their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Mizuho lowered 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, Barclays reduced their price target on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.67.

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.