Commerce Bank Trims Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Commerce Bank decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,630 shares of the manufacturing equipment provider's stock after selling 1,888 shares during the period. Commerce Bank's holdings in Applied Materials were worth $8,234,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. Norges Bank purchased a new position in Applied Materials in the 4th quarter valued at $1,588,422,000. Raymond James Financial Inc. purchased a new stake in shares of Applied Materials in the fourth quarter valued at about $182,962,000. Bessemer Group Inc. increased its stake in shares of Applied Materials by 1,069.9% during the fourth quarter. Bessemer Group Inc. now owns 1,079,977 shares of the manufacturing equipment provider's stock worth $175,637,000 after acquiring an additional 987,660 shares during the period. Alecta Tjanstepension Omsesidigt purchased a new position in Applied Materials during the fourth quarter worth about $157,426,000. Finally, Flossbach Von Storch SE lifted its position in Applied Materials by 126.6% in the fourth quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider's stock valued at $260,221,000 after purchasing an additional 893,995 shares during the period. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Applied Materials

In other news, CEO Gary E. Dickerson bought 50,000 shares of the firm's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the purchase, the chief executive officer now owns 1,716,058 shares of the company's stock, valued at $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AMAT. The Goldman Sachs Group cut their target price on Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Jefferies Financial Group upgraded 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. Needham & Company LLC cut their price target on shares of Applied Materials from $200.00 to $195.00 and set a "buy" rating for the company in a report on Friday, February 14th. Wells Fargo & Company reduced their price objective on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. Finally, KeyCorp raised shares of Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 target price for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Applied Materials currently has an average rating of "Moderate Buy" and an average price target of $208.86.

Applied Materials Trading Up 4.6 %

AMAT traded up $6.59 on Thursday, reaching $150.17. 7,600,417 shares of the company's stock were exchanged, compared to its average volume of 7,661,719. Applied Materials, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89. The company's 50 day moving average is $150.33 and its 200-day moving average is $169.51. 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 cap of $122.00 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.81 and a beta of 1.61.

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

Applied Materials announced that its Board of Directors has authorized a stock repurchase plan on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its shares are 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 paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's payout ratio is currently 24.05%.

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.