Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 714,461 shares of the manufacturing equipment provider’s stock after selling 18,687 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.09% of Applied Materials worth $116,193,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. FPC Investment Advisory Inc. acquired a new stake in shares of Applied Materials during the fourth quarter worth $28,000. Crews Bank & Trust purchased a new position in Applied Materials in the 4th quarter worth about $28,000. YANKCOM Partnership acquired a new stake in Applied Materials during the 4th quarter worth about $32,000. Dunhill Financial LLC lifted its stake in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares in the last quarter. Finally, City Holding Co. acquired a new position in shares of Applied Materials in the fourth quarter worth about $39,000. Institutional investors own 80.56% of the company’s stock.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Stock Up 1.9 %

Shares of AMAT stock opened at $154.95 on Tuesday. The stock’s 50 day simple moving average is $170.00 and its 200 day simple moving average is $177.68. Applied Materials, Inc. has a twelve month low of $145.37 and a twelve month high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The company has a market capitalization of $125.89 billion, a price-to-earnings ratio of 20.25, a PEG ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. As a group, research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has approved a share repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.19%. Applied Materials’s payout ratio is currently 24.05%.

Wall Street Analyst Weigh In

Several brokerages recently commented on AMAT. Citigroup upped their price target on shares of Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. The Goldman Sachs Group decreased their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Wells Fargo & Company dropped their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Edward Jones upgraded Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Mizuho dropped their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

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.