Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by CoreCap Advisors LLC

CoreCap Advisors LLC trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 86.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,992 shares of the manufacturing equipment provider's stock after selling 18,884 shares during the quarter. CoreCap Advisors LLC's holdings in Applied Materials were worth $487,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Field & Main Bank lifted its position in Applied Materials by 1.8% in the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider's stock worth $516,000 after buying an additional 55 shares during the last quarter. Grove Bank & Trust lifted its position in Applied Materials by 0.8% in the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider's stock worth $1,202,000 after buying an additional 60 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its position in Applied Materials by 0.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider's stock worth $2,375,000 after buying an additional 60 shares during the last quarter. Mezzasalma Advisors LLC lifted its position in Applied Materials by 3.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider's stock worth $335,000 after buying an additional 60 shares during the last quarter. Finally, Belpointe Asset Management LLC lifted its position in Applied Materials by 1.7% in the fourth quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider's stock worth $607,000 after buying an additional 62 shares during the last quarter. 80.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AMAT has been the subject of a number of analyst reports. Bank of America lowered their price target on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Susquehanna increased their target price on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Needham & Company LLC reduced their target price on Applied Materials from $200.00 to $195.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Citigroup reduced their target price on Applied Materials from $202.00 to $170.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Jefferies Financial Group upgraded 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. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $208.86.

Applied Materials Stock Up 0.6%

NASDAQ AMAT traded up $1.11 during trading on Wednesday, hitting $174.14. The company's stock had a trading volume of 7,059,958 shares, compared to its average volume of 6,814,705. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.89. The company has a market cap of $141.48 billion, a PE ratio of 22.76, a P/E/G ratio of 1.81 and a beta of 1.71. The business's 50 day simple moving average is $147.95 and its 200-day simple moving average is $165.68.

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

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.06%. This is a boost from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials's payout ratio is presently 24.05%.

Applied Materials declared that its board has authorized a share buyback program on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Insider Buying and Selling

In other Applied Materials news, CAO Adam Sanders sold 450 shares of the business's stock in a transaction 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 transaction, the chief accounting officer now owns 6,077 shares of the company's stock, valued at approximately $880,131.91. The trade was a 6.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary E. Dickerson acquired 50,000 shares of the stock in a transaction on Thursday, April 3rd. The shares were bought 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 of the company's stock, valued at $235,614,763.40. The trade was a 3.00% increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is owned by company insiders.

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.