Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. Trims Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 28.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,101 shares of the manufacturing equipment provider’s stock after selling 56,079 shares during the quarter. Applied Materials makes up about 2.8% of Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s portfolio, making the stock its 15th biggest holding. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A.’s holdings in Applied Materials were worth $23,435,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Delta Investment Management LLC raised its position in shares of Applied Materials by 99.1% during the 4th quarter. Delta Investment Management LLC now owns 5,992 shares of the manufacturing equipment provider’s stock worth $974,000 after purchasing an additional 2,982 shares during the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of Applied Materials in the fourth quarter valued at about $109,685,000. Waverly Advisors LLC increased its holdings in shares of Applied Materials by 52.2% during the 4th quarter. Waverly Advisors LLC now owns 5,871 shares of the manufacturing equipment provider’s stock worth $955,000 after buying an additional 2,013 shares during the last quarter. Worldquant Millennium Advisors LLC raised its position in Applied Materials by 417.1% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 825,750 shares of the manufacturing equipment provider’s stock valued at $134,292,000 after purchasing an additional 666,059 shares during the period. Finally, Whelan Financial purchased a new position in Applied Materials during the fourth quarter worth about $286,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Trading Up 0.2%

Shares of NASDAQ AMAT opened at $165.94 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The company has a market cap of $134.82 billion, a price-to-earnings ratio of 21.69, a P/E/G ratio of 1.81 and a beta of 1.71. The business has a fifty day simple moving average of $149.52 and a 200-day simple moving average of $165.12.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The company had revenue of $7.10 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. The business’s quarterly revenue was up 6.8% on a year-over-year basis. Sell-side analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its board has authorized a share repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is 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 given a $0.46 dividend. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio is presently 22.38%.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction dated 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 of the company’s stock, valued at $880,131.91. This trade represents a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary E. Dickerson acquired 50,000 shares of the business’s stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the acquisition, the chief executive officer now owns 1,716,058 shares of the company’s stock, valued at approximately $235,614,763.40. This trade represents a 3.00% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Citigroup increased their price target on shares of Applied Materials from $170.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho cut their target price on Applied Materials from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday. Bank of America decreased their price objective on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Cantor Fitzgerald lowered their target price on shares of Applied Materials from $220.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, May 12th. Finally, Barclays dropped their price target on Applied Materials from $190.00 to $160.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.48.

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.