Mn Services Vermogensbeheer B.V. Decreases Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Mn Services Vermogensbeheer B.V. lessened its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 304,462 shares of the manufacturing equipment provider's stock after selling 23,800 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Applied Materials were worth $44,184,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Jacobi Capital Management LLC increased its position in Applied Materials by 51.2% during the 4th quarter. Jacobi Capital Management LLC now owns 18,785 shares of the manufacturing equipment provider's stock valued at $3,055,000 after purchasing an additional 6,364 shares during the period. Skye Global Management LP acquired a new stake in shares of Applied Materials during the 4th quarter worth approximately $45,862,000. Cable Hill Partners LLC grew its position in shares of Applied Materials by 10.2% during the 4th quarter. Cable Hill Partners LLC now owns 3,485 shares of the manufacturing equipment provider's stock worth $567,000 after buying an additional 322 shares during the period. Leonard Rickey Investment Advisors P.L.L.C. acquired a new stake in shares of Applied Materials during the 1st quarter worth approximately $230,000. Finally, Value Partners Investments Inc. grew 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 worth $1,608,000 after buying an additional 793 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the sale, the chief accounting officer now owns 6,077 shares of the company's stock, valued at approximately $880,131.91. This trade represents a 6.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gary E. Dickerson acquired 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares in the company, 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.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $195.00 price objective on shares of Applied Materials in a research report on Friday, May 16th. Citigroup raised their price objective on shares of Applied Materials from $170.00 to $190.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Wall Street Zen downgraded shares of Applied Materials from a "buy" rating to a "hold" rating in a research report on Saturday. Raymond James reaffirmed an "outperform" rating and set a $200.00 price objective (down previously from $225.00) on shares of Applied Materials in a research report on Friday, May 16th. Finally, Mizuho reduced their price objective on shares of Applied Materials from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Friday, May 16th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Applied Materials currently has an average rating of "Moderate Buy" and a consensus price target of $199.29.

Applied Materials Stock Down 2.5%

NASDAQ:AMAT traded down $4.41 during trading hours on Friday, hitting $170.59. 5,292,961 shares of the company traded hands, compared to its average volume of 6,989,010. 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 50-day simple moving average is $156.02 and its 200-day simple moving average is $163.14. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $255.89. The company has a market cap of $136.90 billion, a PE ratio of 22.30, a PEG ratio of 1.81 and a beta of 1.67.

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

Applied Materials announced that its Board of Directors has authorized a stock repurchase program on Monday, March 10th that permits the company to repurchase $10.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board believes its stock is undervalued.

Applied Materials Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Stockholders of record on Thursday, August 21st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Thursday, August 21st. Applied Materials's payout ratio is 22.38%.

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.