UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Lowers Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,743,895 shares of the manufacturing equipment provider's stock after selling 118,038 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.08% of Applied Materials worth $1,422,020,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Crews Bank & Trust bought a new stake in Applied Materials in the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. bought a new stake in Applied Materials in the 4th quarter worth approximately $28,000. YANKCOM Partnership bought a new stake in Applied Materials in the 4th quarter worth approximately $32,000. City Holding Co. bought a new stake in Applied Materials in the 4th quarter worth approximately $39,000. Finally, Atala Financial Inc bought a new stake in Applied Materials in the 4th quarter worth approximately $45,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Wells Fargo & Company reaffirmed a "mixed" rating on shares of Applied Materials in a research report on Friday, May 16th. JPMorgan Chase & Co. dropped their price target on shares of Applied Materials from $240.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, May 16th. Stifel Nicolaus dropped their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald lowered their target price on shares of Applied Materials from $220.00 to $200.00 and set an "overweight" rating on the stock in a research note on Monday, May 12th. Finally, Morgan Stanley lowered their target price on shares of Applied Materials from $164.00 to $162.00 and set an "underweight" rating on the stock in a research note on Friday, May 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company's stock. According to data from MarketBeat, Applied Materials presently has an average rating of "Moderate Buy" and a consensus price target of $199.48.

Applied Materials Price Performance

AMAT stock traded down $3.01 during mid-day trading on Friday, hitting $157.51. The company had a trading volume of 5,730,689 shares, compared to its average volume of 6,896,893. The company has a 50-day moving average price of $150.15 and a 200 day moving average price of $164.60. Applied Materials, Inc. has a 12-month low of $123.74 and a 12-month high of $255.89. 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 company has a market capitalization of $127.97 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.81 and a beta of 1.71.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share for the quarter, topping analysts' consensus estimates of $2.31 by $0.08. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. The firm had revenue of $7.10 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the previous year, the firm posted $2.09 EPS. The business's quarterly revenue was up 6.8% on a year-over-year basis. On average, research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This is an increase from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.17%. Applied Materials's payout ratio is 22.38%.

Applied Materials announced that its board 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 repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gary E. Dickerson purchased 50,000 shares of the business's stock in a transaction that occurred on Thursday, April 3rd. The shares were purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the acquisition, the chief executive officer now directly 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. 0.24% of the stock is currently owned by insiders.

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.