Horizon Investment Services LLC Trims Position in Applied Materials, Inc. (NASDAQ:AMAT)

Horizon Investment Services LLC cut its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 35,949 shares of the manufacturing equipment provider’s stock after selling 2,267 shares during the period. Applied Materials makes up about 2.5% of Horizon Investment Services LLC’s portfolio, making the stock its 9th biggest holding. Horizon Investment Services LLC’s holdings in Applied Materials were worth $5,847,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new stake in Applied Materials in the fourth quarter worth $28,000. Crews Bank & Trust purchased a new position in shares of Applied Materials in the 4th quarter worth $28,000. YANKCOM Partnership bought a new stake in shares of Applied Materials in the 4th quarter worth about $32,000. Dunhill Financial LLC raised its position in shares of Applied Materials by 61.4% during the 3rd 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. purchased a new position in Applied Materials in the fourth quarter worth about $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were 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 of the company’s stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

Applied Materials Trading Down 1.8 %

Shares of NASDAQ:AMAT opened at $145.06 on Friday. Applied Materials, Inc. has a 12-month low of $144.12 and a 12-month high of $255.89. The business’s fifty day simple moving average is $167.33 and its 200-day simple moving average is $176.91. The company has a market capitalization of $117.85 billion, a PE ratio of 18.96, a P/E/G ratio of 1.81 and a beta of 1.62. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

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 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%. As a group, equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its Board of Directors has initiated 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 repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. The ex-dividend date 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 1.27%. Applied Materials’s dividend payout ratio is presently 24.05%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Needham & Company LLC decreased their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Susquehanna raised their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group cut their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Sanford C. Bernstein lowered their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Finally, Mizuho reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $214.67.

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.