Applied Materials, Inc. (AMAT) Position Decreased by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 22.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 34,705 shares of the manufacturing equipment provider’s stock after selling 10,208 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Applied Materials were worth $1,774,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AMAT. Egerton Capital UK LLP lifted its position in shares of Applied Materials by 23.2% during the 3rd quarter. Egerton Capital UK LLP now owns 16,919,928 shares of the manufacturing equipment provider’s stock worth $881,359,000 after buying an additional 3,184,994 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Applied Materials during the 3rd quarter worth $97,804,000. BlackRock Inc. lifted its position in shares of Applied Materials by 1.8% during the 4th quarter. BlackRock Inc. now owns 68,889,949 shares of the manufacturing equipment provider’s stock worth $3,521,655,000 after buying an additional 1,248,388 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Applied Materials by 192.6% during the 3rd quarter. Nordea Investment Management AB now owns 1,652,089 shares of the manufacturing equipment provider’s stock worth $86,057,000 after buying an additional 1,087,432 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Applied Materials by 10.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 11,121,032 shares of the manufacturing equipment provider’s stock worth $568,507,000 after buying an additional 1,033,700 shares during the last quarter. Institutional investors and hedge funds own 79.93% of the company’s stock.

In related news, Director Stephen R. Forrest sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total transaction of $214,680.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ali Salehpour sold 125,125 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The disclosure for this sale can be found here. Insiders have sold 312,716 shares of company stock valued at $16,218,746 in the last ninety days. 0.35% of the stock is currently owned by insiders.

Several equities analysts have commented on the company. Susquehanna Bancshares upgraded Applied Materials from a “neutral” rating to a “positive” rating and increased their target price for the company from $60.00 to $72.00 in a research report on Tuesday, January 16th. Royal Bank of Canada reiterated a “buy” rating on shares of Applied Materials in a research report on Friday, October 27th. Bank of America increased their target price on Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, November 15th. B. Riley reiterated a “buy” rating and issued a $71.00 target price on shares of Applied Materials in a research report on Tuesday, January 16th. Finally, Vetr upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $59.06 target price for the company in a research report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $64.06.

Shares of Applied Materials, Inc. (NASDAQ AMAT) opened at $56.13 on Thursday. The firm has a market capitalization of $59,110.00, a PE ratio of 15.63, a PEG ratio of 1.03 and a beta of 1.72. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25. Applied Materials, Inc. has a one year low of $35.55 and a one year high of $60.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.08. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same quarter in the prior year, the firm posted $0.67 earnings per share. sell-side analysts expect that Applied Materials, Inc. will post 4.33 EPS for the current year.

Applied Materials announced that its board has approved a stock repurchase program on Wednesday, February 14th that allows the company to buyback $6.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be paid a $0.20 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, May 23rd. This represents a $0.80 annualized dividend and a dividend yield of 1.43%. Applied Materials’s dividend payout ratio is presently 11.14%.

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Applied Materials Profile

Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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