BNP Paribas Cuts Stake in Applied Materials, Inc. (NASDAQ:AMAT)

BNP Paribas trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 181,709 shares of the manufacturing equipment provider's stock after selling 9,063 shares during the quarter. Applied Materials accounts for 1.3% of BNP Paribas' portfolio, making the stock its 22nd largest position. BNP Paribas' holdings in Applied Materials were worth $30,442,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Applied Materials during the fourth quarter worth $1,588,422,000. Northern Trust Corp grew its holdings in shares of Applied Materials by 18.6% in 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 acquiring an additional 1,602,645 shares in the last quarter. Kovitz Investment Group Partners LLC increased its position in shares of Applied Materials by 301.6% in 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 acquiring an additional 1,471,953 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Applied Materials during the fourth quarter valued at approximately $182,962,000. Finally, Bessemer Group Inc. boosted its holdings in shares of 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 valued at $175,637,000 after buying an additional 987,660 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Applied Materials Stock Up 0.1 %

Shares of NASDAQ:AMAT traded up $0.19 during trading on Thursday, hitting $156.00. The stock had a trading volume of 4,823,494 shares, compared to its average volume of 6,725,804. The company has a market capitalization of $126.74 billion, a PE ratio of 20.39, a PEG ratio of 1.81 and a beta of 1.71. 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 firm's fifty day moving average is $147.13 and its 200 day moving average is $166.38. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89.

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

Applied Materials announced that its Board of Directors has approved a stock buyback plan on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

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 paid a $0.46 dividend. This is a boost from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.18%. Applied Materials's payout ratio is presently 24.05%.

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares of the company's stock, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary E. Dickerson purchased 50,000 shares of Applied Materials stock in a transaction dated Thursday, April 3rd. The stock was bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares of the company's stock, valued at approximately $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AMAT has been the subject of several research reports. KeyCorp upgraded shares of Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price objective for the company in a research report on Friday, January 17th. Barclays lowered their target price on Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Mizuho cut their price objective on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company reduced their price target on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Finally, Edward Jones raised Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.86.

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.