Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. decreased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 23.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,420 shares of the manufacturing equipment provider’s stock after selling 1,060 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Applied Materials were worth $556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of Applied Materials during the fourth quarter worth about $1,588,422,000. Raymond James Financial Inc. acquired a new stake in Applied Materials during the 4th quarter worth approximately $182,962,000. Bessemer Group Inc. grew its stake in shares of Applied Materials by 1,069.9% in the fourth quarter. Bessemer Group Inc. now owns 1,079,977 shares of the manufacturing equipment provider’s stock worth $175,637,000 after acquiring an additional 987,660 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Applied Materials during the fourth quarter worth $157,426,000. Finally, Flossbach Von Storch SE raised its stake in shares of Applied Materials by 126.6% in the fourth quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock valued at $260,221,000 after acquiring an additional 893,995 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Applied Materials

In other news, 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 sale, the chief accounting officer now directly owns 6,077 shares in the company, valued at approximately $880,131.91. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gary E. Dickerson purchased 50,000 shares of the firm’s stock in a transaction dated Thursday, April 3rd. The shares were purchased 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 approximately $235,614,763.40. This represents a 3.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Needham & Company LLC reduced 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. Bank of America lowered their price target on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective on the stock in a report on Friday, January 17th. Mizuho dropped their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. Finally, Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and a consensus target price of $208.86.

Applied Materials Trading Up 3.8 %

NASDAQ:AMAT opened at $143.58 on Thursday. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock’s 50 day simple moving average is $150.33 and its 200-day simple moving average is $169.51. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $255.89. The firm has a market cap of $116.65 billion, a P/E ratio of 18.77, a PEG ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its board has authorized a stock buyback 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 reacquire up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

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.