Applied Materials, Inc. (NASDAQ:AMAT) Stake Trimmed by KBC Group NV

KBC Group NV decreased its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,258,617 shares of the manufacturing equipment provider's stock after selling 446,263 shares during the period. Applied Materials accounts for 0.6% of KBC Group NV's investment portfolio, making the stock its 29th largest holding. KBC Group NV owned about 0.15% of Applied Materials worth $182,650,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Runnymede Capital Advisors Inc. lifted its position in shares of Applied Materials by 972.2% during the 1st quarter. Runnymede Capital Advisors Inc. now owns 193 shares of the manufacturing equipment provider's stock valued at $28,000 after acquiring an additional 175 shares during the period. Mascagni Wealth Management Inc. purchased a new stake in shares of Applied Materials in the 4th quarter worth about $44,000. Atala Financial Inc purchased a new stake in shares of Applied Materials in the 4th quarter worth about $45,000. Minot DeBlois Advisors LLC purchased a new stake in shares of Applied Materials in the 4th quarter worth about $46,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Applied Materials in the 4th quarter worth about $48,000. Institutional investors and hedge funds own 80.56% of the company's stock.

Analysts Set New Price Targets

AMAT has been the topic of several recent research reports. Raymond James Financial reiterated an "outperform" rating and issued a $200.00 price objective (down from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Bank of America reduced their target price on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Citigroup increased their price objective on shares of Applied Materials from $170.00 to $190.00 and gave the stock a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. dropped their target price on shares of Applied Materials from $240.00 to $210.00 and set an "overweight" rating for the company in a research report on Friday, May 16th. Finally, B. Riley dropped their target price on shares of Applied Materials from $250.00 to $215.00 and set a "buy" rating for the company in a research report on Monday, May 12th. Seven research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $200.76.

Insider Transactions at Applied Materials

In other news, CEO Gary E. Dickerson bought 50,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the acquisition, the chief executive officer directly owned 1,716,058 shares in the company, valued at approximately $235,614,763.40. The trade was a 3.00% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 directly owned 5,300 shares in the company, valued at $946,580. This represents a 9.59% decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Applied Materials Stock Performance

Shares of AMAT traded up $1.69 during trading hours on Tuesday, reaching $184.76. 2,337,625 shares of the company's stock traded hands, compared to its average volume of 7,026,509. The firm has a market capitalization of $148.27 billion, a price-to-earnings ratio of 22.47, a P/E/G ratio of 2.04 and a beta of 1.67. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89. The business's fifty day simple moving average is $164.03 and its two-hundred day simple moving average is $163.32.

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 (EPS) for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. The firm had revenue of $7.10 billion for the quarter, compared to analyst estimates 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 earned $2.09 earnings per share. Analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.00%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials's payout ratio is currently 22.38%.

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

Applied Materials Company 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.