Aviance Capital Partners LLC Decreases Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Aviance Capital Partners LLC decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 39.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,841 shares of the manufacturing equipment provider's stock after selling 2,549 shares during the period. Aviance Capital Partners LLC's holdings in Applied Materials were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Skye Global Management LP purchased a new position in shares of Applied Materials during the 4th quarter valued at approximately $45,862,000. Value Partners Investments Inc. lifted its position in shares of Applied Materials by 8.7% during the 4th quarter. Value Partners Investments Inc. now owns 9,896 shares of the manufacturing equipment provider's stock valued at $1,608,000 after buying an additional 793 shares in the last quarter. Leonard Rickey Investment Advisors P.L.L.C. purchased a new position in shares of Applied Materials during the 1st quarter valued at approximately $230,000. Townsquare Capital LLC lifted its position in shares of Applied Materials by 15.6% during the 4th quarter. Townsquare Capital LLC now owns 71,577 shares of the manufacturing equipment provider's stock valued at $11,640,000 after buying an additional 9,672 shares in the last quarter. Finally, Argentarii LLC purchased a new position in shares of Applied Materials during the 4th quarter valued at approximately $471,000. Hedge funds and other institutional investors own 80.56% of the company's stock.

Applied Materials Stock Performance

NASDAQ AMAT opened at $190.86 on Friday. The company has a market cap of $153.17 billion, a P/E ratio of 23.22, a P/E/G ratio of 2.13 and a beta of 1.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. The stock has a 50-day moving average of $167.47 and a two-hundred day moving average of $163.94. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, beating the consensus estimate of $2.31 by $0.08. The company had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. Applied Materials's revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.09 EPS. As a group, analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 0.96%. The ex-dividend date is Thursday, August 21st. Applied Materials's payout ratio is presently 22.38%.

Applied Materials declared that its Board of Directors has initiated a stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on AMAT. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a report on Friday, May 16th. Citigroup raised their price objective on Applied Materials from $170.00 to $190.00 and gave the company a "buy" rating in a report on Friday, May 16th. Bank of America decreased their price objective on Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Wall Street Zen lowered Applied Materials from a "buy" rating to a "hold" rating in a report on Saturday, June 14th. Finally, Raymond James Financial restated an "outperform" rating and issued a $200.00 price objective (down previously from $225.00) on shares of Applied Materials in a report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Applied Materials presently has an average rating of "Moderate Buy" and a consensus target price of $200.76.

Insider Activity

In other news, CAO Adam Sanders sold 562 shares of Applied Materials stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total value of $100,373.20. Following the completion of the transaction, the chief accounting officer owned 5,300 shares in the company, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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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