Boston Partners Sells 619,757 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Boston Partners trimmed its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 25.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,825,872 shares of the manufacturing equipment provider’s stock after selling 619,757 shares during the quarter. Boston Partners’ holdings in Applied Materials were worth $299,577,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Crews Bank & Trust acquired a new position in Applied Materials during the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. acquired a new stake in Applied Materials in the 4th quarter valued at $28,000. YANKCOM Partnership bought a new stake in Applied Materials during the 4th quarter worth about $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Applied Materials during the 3rd quarter worth about $37,000. Finally, City Holding Co. bought a new position in shares of Applied Materials in the 4th quarter valued at about $39,000. Institutional investors own 80.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on AMAT shares. Barclays reduced their price target on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Morgan Stanley reissued an “underweight” rating and issued a $164.00 target price (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Stifel Nicolaus cut their price target on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Susquehanna lifted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average price target of $215.38.

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by insiders.

Applied Materials Stock Performance

NASDAQ AMAT opened at $155.46 on Tuesday. The company has a market capitalization of $126.30 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 12-month low of $145.37 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 firm has a 50-day moving average price of $172.10 and a two-hundred day moving average price of $178.88.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. 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 disclosed 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. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.18%. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Applied Materials declared that its Board of Directors has initiated a stock 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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.