State of Wyoming Sells 1,295 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

State of Wyoming trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 36.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,287 shares of the manufacturing equipment provider’s stock after selling 1,295 shares during the quarter. State of Wyoming’s holdings in Applied Materials were worth $372,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in Applied Materials in the fourth quarter worth $28,000. Crews Bank & Trust bought a new stake in Applied Materials in the fourth quarter worth $28,000. YANKCOM Partnership bought a new position in shares of Applied Materials during the fourth quarter valued at $32,000. City Holding Co. bought a new position in shares of Applied Materials during the fourth quarter valued at $39,000. Finally, Atala Financial Inc bought a new position in shares of Applied Materials during the fourth quarter valued at $45,000. 80.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AMAT shares. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Applied Materials in a report on Friday. Morgan Stanley lowered their price target on Applied Materials from $164.00 to $162.00 and set an “underweight” rating on the stock in a report on Friday, May 16th. Susquehanna upped their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Bank of America lowered their price target on Applied Materials from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price target on shares of Applied Materials in a report on Friday, May 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $199.48.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction that occurred 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 owns 6,077 shares of the company’s stock, valued at approximately $880,131.91. This trade represents a 6.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary E. Dickerson bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00% increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by company insiders.

Applied Materials Stock Performance

Shares of AMAT opened at $165.73 on Wednesday. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The business has a 50-day simple moving average of $149.84 and a two-hundred day simple moving average of $165.12. The stock has a market cap of $134.65 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.81 and a beta of 1.71. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89.

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

Applied Materials Increases Dividend

The business also recently declared 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 boost 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 yield of 1.11%. Applied Materials’s dividend payout ratio is presently 22.38%.

Applied Materials announced that its Board of Directors has initiated a stock repurchase plan 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 reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

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.