Opinicus Capital Inc. Lowers Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Opinicus Capital Inc. lowered its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 27.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,630 shares of the manufacturing equipment provider’s stock after selling 2,085 shares during the quarter. Opinicus Capital Inc.’s holdings in Applied Materials were worth $817,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Applied Materials in the 4th quarter worth approximately $1,588,422,000. GAMMA Investing LLC increased its position in Applied Materials by 18,402.1% in the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider’s stock worth $2,647,430,000 after purchasing an additional 1,814,444 shares during the last quarter. Northern Trust Corp raised its stake in Applied Materials by 18.6% during the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider’s stock valued at $1,663,780,000 after purchasing an additional 1,602,645 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in Applied Materials by 301.6% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider’s stock valued at $318,754,000 after purchasing an additional 1,471,953 shares during the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Applied Materials by 10,767.6% in the 4th quarter. Two Sigma Investments LP now owns 1,347,580 shares of the manufacturing equipment provider’s stock worth $219,157,000 after buying an additional 1,335,180 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Gary E. Dickerson purchased 50,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was acquired at an average price 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 in the company, valued at approximately $235,614,763.40. This represents a 3.00% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Adam Sanders sold 450 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were 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 $880,131.91. This trade represents a 6.89% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Friday, June 6th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price target on Applied Materials from $240.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, May 16th. Wells Fargo & Company reaffirmed a “mixed” rating on shares of Applied Materials in a research note on Friday, May 16th. Finally, TD Cowen reduced their target price on shares of Applied Materials from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $199.29.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT opened at $175.00 on Friday. The firm has a 50 day moving average of $155.19 and a 200 day moving average of $163.22. 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 company has a market capitalization of $140.44 billion, a price-to-earnings ratio of 22.88, a price-to-earnings-growth ratio of 1.81 and a beta of 1.67. 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 data on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. The firm had revenue of $7.10 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same period in the prior year, the business posted $2.09 EPS. The firm’s quarterly revenue was up 6.8% on a year-over-year basis. On average, sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its Board of Directors has authorized a share repurchase plan on Monday, March 10th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Applied Materials Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio is currently 22.38%.

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.