Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 17.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,357,843 shares of the manufacturing equipment provider's stock after selling 1,299,394 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.78% of Applied Materials worth $1,034,054,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Applied Materials in the fourth quarter valued at approximately $1,588,422,000. Northern Trust Corp grew its holdings in Applied Materials by 18.6% during the 4th 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 increased its stake in Applied Materials by 301.6% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock worth $318,754,000 after buying an additional 1,471,953 shares during the period. Raymond James Financial Inc. acquired a new position in Applied Materials in the 4th quarter worth $182,962,000. Finally, Bessemer Group Inc. lifted its holdings in Applied Materials by 1,069.9% in the 4th quarter. Bessemer Group Inc. now owns 1,079,977 shares of the manufacturing equipment provider's stock worth $175,637,000 after buying an additional 987,660 shares in the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Up 4.1 %

Shares of Applied Materials stock opened at $155.10 on Friday. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The stock's 50-day moving average is $147.52 and its 200 day moving average is $166.88. The firm has a market cap of $126.01 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.81 and a beta of 1.71.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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 research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.19%. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's payout ratio is currently 24.05%.

Applied Materials declared that its Board of Directors has authorized a share repurchase program on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. The Goldman Sachs Group dropped their price objective on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Citigroup cut their price target on shares of Applied Materials from $202.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Barclays decreased their price objective on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 target price on the stock in a research note on Friday, March 28th. Finally, Bank of America decreased their price target on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $208.86.

Insider Buying and Selling at Applied Materials

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

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.

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