Integrated Advisors Network LLC Sells 17,403 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Integrated Advisors Network LLC decreased its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 69.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,571 shares of the manufacturing equipment provider's stock after selling 17,403 shares during the quarter. Integrated Advisors Network LLC's holdings in Applied Materials were worth $1,231,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Applied Materials during the 4th quarter worth $28,000. FPC Investment Advisory Inc. bought a new stake in Applied Materials in the fourth quarter worth $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the fourth quarter worth $32,000. Atala Financial Inc bought a new position in Applied Materials during the fourth quarter valued at about $45,000. Finally, Minot DeBlois Advisors LLC acquired a new stake in shares of Applied Materials in the fourth quarter worth about $46,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Wall Street Analysts Forecast Growth

AMAT has been the topic of a number of analyst reports. Jefferies Financial Group raised Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price objective on the stock in a report on Friday, March 28th. Morgan Stanley decreased their target price on Applied Materials from $164.00 to $162.00 and set an "underweight" rating for the company in a research report on Friday, May 16th. B. Riley dropped their price target on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. Wells Fargo & Company restated a "mixed" rating on shares of Applied Materials in a research note on Friday, May 16th. Finally, Bank of America lowered their target price on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $199.48.

Applied Materials Stock Performance

AMAT traded down $2.11 during trading on Thursday, reaching $159.48. 6,844,125 shares of the company's stock were exchanged, compared to its average volume of 6,907,805. The company has a market capitalization of $129.57 billion, a P/E ratio of 20.85, 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 business has a 50 day moving average price of $150.55 and a 200 day moving average price of $164.12. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued 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. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The business had revenue of $7.10 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the business earned $2.09 EPS. The firm's revenue was up 6.8% on a year-over-year basis. As a group, analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The business 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 positive change from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.15%. Applied Materials's payout ratio is currently 22.38%.

Applied Materials declared that its board has initiated a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 450 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now directly owns 6,077 shares of the company's stock, valued at approximately $880,131.91. This represents a 6.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gary E. Dickerson bought 50,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was purchased at an average price of $137.30 per share, with a total value 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. Company insiders own 0.24% of the company's stock.

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.