Applied Materials, Inc. (NASDAQ:AMAT) Stock Holdings Trimmed by Plimoth Trust Co. LLC

Plimoth Trust Co. LLC decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 0.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,325 shares of the manufacturing equipment provider’s stock after selling 125 shares during the quarter. Applied Materials accounts for approximately 1.3% of Plimoth Trust Co. LLC’s holdings, making the stock its 18th largest position. Plimoth Trust Co. LLC’s holdings in Applied Materials were worth $5,126,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. FPC Investment Advisory Inc. acquired a new stake in shares of Applied Materials in the fourth quarter valued at $28,000. Mascagni Wealth Management Inc. acquired a new stake in Applied Materials in the 4th quarter valued at about $44,000. Atala Financial Inc acquired a new stake in Applied Materials in the 4th quarter valued at about $45,000. Minot DeBlois Advisors LLC bought a new position in shares of Applied Materials during the 4th quarter valued at about $46,000. Finally, Centricity Wealth Management LLC acquired a new position in shares of Applied Materials in the 4th quarter worth approximately $47,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Trading Down 0.7%

NASDAQ AMAT opened at $172.84 on Thursday. The company has a current ratio of 2.46, a quick ratio of 1.76 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89. The firm’s fifty day simple moving average is $157.92 and its 200-day simple moving average is $163.24. The company has a market capitalization of $138.70 billion, a PE ratio of 21.03, a price-to-earnings-growth ratio of 1.94 and a beta of 1.67.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.31 by $0.08. The company had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The business’s revenue was up 6.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.09 EPS. 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 has initiated a share 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Applied Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be issued a dividend of $0.46 per share. The ex-dividend date is Thursday, August 21st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.06%. Applied Materials’s dividend payout ratio is currently 22.38%.

Insider Activity at Applied Materials

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on AMAT shares. Needham & Company LLC reissued a “buy” rating and set a $195.00 target price on shares of Applied Materials in a research note on Friday, May 16th. Raymond James Financial reaffirmed an “outperform” rating and issued a $200.00 price target (down previously from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Wells Fargo & Company reissued a “mixed” rating on shares of Applied Materials in a research note on Friday, May 16th. Stifel Nicolaus cut their target price on Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Finally, Bank of America reduced their target price on Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $199.29.

About Applied Materials

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.