Applied Materials, Inc. (NASDAQ:AMAT) Stock Position Trimmed by Blue Whale Capital LLP

Blue Whale Capital LLP reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 36.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 482,211 shares of the manufacturing equipment provider’s stock after selling 275,191 shares during the quarter. Applied Materials accounts for about 5.8% of Blue Whale Capital LLP’s investment portfolio, making the stock its 6th biggest holding. Blue Whale Capital LLP’s holdings in Applied Materials were worth $78,422,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Nordea Investment Management AB lifted its position in shares of Applied Materials by 8.6% during the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock valued at $340,895,000 after acquiring an additional 164,085 shares during the period. Pensionfund Sabic increased its stake in shares of Applied Materials by 38.9% during the 4th quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider’s stock worth $2,147,000 after purchasing an additional 3,700 shares in the last quarter. Brookstone Capital Management lifted its stake in Applied Materials by 59.1% in the 4th quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock valued at $7,380,000 after buying an additional 16,851 shares in the last quarter. Advisors Management Group Inc. ADV purchased a new stake in shares of Applied Materials in the fourth quarter valued at $339,000. Finally, Rheos Capital Works Inc. grew its holdings 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 worth $27,663,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on AMAT shares. Wells Fargo & Company cut their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Citigroup increased their target price on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Stifel Nicolaus dropped their price objective 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. Jefferies Financial Group raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price on the stock in a research report on Friday, March 28th. Finally, Barclays cut their price target on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.67.

Applied Materials Trading Down 6.3 %

NASDAQ:AMAT opened at $126.95 on Monday. Applied Materials, Inc. has a one year low of $121.86 and a one year high of $255.89. The business’s 50-day simple moving average is $162.19 and its 200 day simple moving average is $175.20. 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 stock has a market cap of $103.14 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping 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, sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a $0.46 dividend. 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 annualized dividend and a dividend yield of 1.45%. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Applied Materials announced that its Board of Directors has authorized a stock buyback 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 repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Applied Materials news, CAO Adam Sanders sold 450 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the completion of the sale, the chief accounting officer now owns 6,077 shares in the company, valued at $880,131.91. The trade was a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.24% of the company’s stock.

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.