Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Trimmed by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 6.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,338 shares of the manufacturing equipment provider's stock after selling 1,942 shares during the quarter. Laird Norton Wetherby Wealth Management LLC's holdings in Applied Materials were worth $4,609,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brookstone Capital Management increased its position in Applied Materials by 59.1% during the 4th quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider's stock worth $7,380,000 after purchasing an additional 16,851 shares in the last quarter. Advisors Management Group Inc. ADV purchased a new stake in shares of Applied Materials during the fourth quarter worth about $339,000. Rheos Capital Works Inc. lifted its stake in shares of Applied Materials by 2.7% during the fourth quarter. Rheos Capital Works Inc. now owns 170,100 shares of the manufacturing equipment provider's stock valued at $27,663,000 after buying an additional 4,500 shares during the period. Czech National Bank boosted its position in Applied Materials by 6.0% during the fourth quarter. Czech National Bank now owns 178,748 shares of the manufacturing equipment provider's stock worth $29,070,000 after acquiring an additional 10,081 shares during the last quarter. Finally, Talbot Financial LLC grew its stake in Applied Materials by 4.6% in the 4th quarter. Talbot Financial LLC now owns 117,361 shares of the manufacturing equipment provider's stock worth $19,086,000 after acquiring an additional 5,124 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

Insiders Place Their Bets

In other news, CAO Adam Sanders sold 271 shares of the firm's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total value 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 trade represents a 4.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Gary E. Dickerson purchased 50,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was acquired 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 now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents 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 company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. KeyCorp upgraded Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price objective on the stock in a report on Friday, January 17th. Jefferies Financial Group upgraded Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target for the company in a report on Friday, March 28th. Susquehanna increased their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Bank of America decreased 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 report on Wednesday, April 16th. Finally, B. Riley dropped their price target 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $203.38.

Applied Materials Stock Up 0.4%

Shares of NASDAQ:AMAT traded up $0.61 during mid-day trading on Thursday, hitting $174.75. 12,091,396 shares of the company traded hands, compared to its average volume of 6,838,544. The firm has a market cap of $141.97 billion, a P/E ratio of 22.84, a PEG ratio of 1.81 and a beta of 1.71. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $255.89. The firm's 50 day simple moving average is $148.32 and its 200 day simple moving average is $165.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 EPS for the quarter, topping analysts' consensus estimates of $2.30 by $0.09. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. On average, equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its Board of Directors has initiated a stock repurchase 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 reacquire up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.05%. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio is presently 24.05%.

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.