Brasada Capital Management LP Sells 26,784 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Brasada Capital Management LP reduced its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 88.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,500 shares of the manufacturing equipment provider's stock after selling 26,784 shares during the quarter. Brasada Capital Management LP's holdings in Applied Materials were worth $569,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of AMAT. Advisory Resource Group raised its holdings in shares of Applied Materials by 22.5% during the third quarter. Advisory Resource Group now owns 24,867 shares of the manufacturing equipment provider's stock valued at $5,024,000 after purchasing an additional 4,561 shares during the last quarter. SkyView Investment Advisors LLC grew its position in Applied Materials by 3.7% in the 3rd quarter. SkyView Investment Advisors LLC now owns 3,746 shares of the manufacturing equipment provider's stock worth $757,000 after purchasing an additional 133 shares during the period. Pine Valley Investments Ltd Liability Co raised its stake in Applied Materials by 26.4% during the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 47,649 shares of the manufacturing equipment provider's stock valued at $9,627,000 after buying an additional 9,941 shares during the last quarter. World Investment Advisors LLC lifted its holdings in shares of Applied Materials by 70.6% during the 3rd quarter. World Investment Advisors LLC now owns 9,845 shares of the manufacturing equipment provider's stock valued at $1,989,000 after buying an additional 4,073 shares during the period. Finally, Sfmg LLC boosted its stake in shares of Applied Materials by 0.4% in the 3rd quarter. Sfmg LLC now owns 54,967 shares of the manufacturing equipment provider's stock worth $11,106,000 after buying an additional 219 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Adam Sanders sold 450 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the transaction, the chief accounting officer now directly owns 6,077 shares of the company's stock, valued at approximately $880,131.91. This trade represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary E. Dickerson purchased 50,000 shares of the firm's stock in a transaction that occurred on Thursday, April 3rd. The shares were acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the purchase, the chief executive officer now owns 1,716,058 shares of the company's stock, valued at $235,614,763.40. This represents a 3.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.24% of the company's stock.

Applied Materials Stock Up 2.0 %

NASDAQ AMAT opened at $138.30 on Wednesday. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The stock has a market cap of $112.36 billion, a PE ratio of 18.08, a P/E/G ratio of 1.81 and a beta of 1.61. The stock's 50 day moving average is $150.85 and its 200 day moving average is $169.69.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS 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%. Research analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its Board of Directors has initiated a share repurchase plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 22nd. This is an increase from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio is 24.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on AMAT shares. KeyCorp upgraded Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price objective for the company in a research report on Friday, January 17th. Stifel Nicolaus reduced their price target on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. The Goldman Sachs Group dropped their price objective on shares of Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a report on Friday, January 10th. Barclays reduced their target price on shares of Applied Materials from $190.00 to $160.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, Citigroup decreased their price target on shares of Applied Materials from $202.00 to $170.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. 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's stock. According to data from MarketBeat.com, Applied Materials has a consensus rating of "Moderate Buy" and a consensus price target of $208.86.

About Applied Materials

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.

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMAT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.