Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 488,341 shares of the manufacturing equipment provider's stock after selling 38,303 shares during the period. Applied Materials comprises approximately 0.6% of Guggenheim Capital LLC's holdings, making the stock its 17th largest position. Guggenheim Capital LLC owned about 0.06% of Applied Materials worth $79,419,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in Applied Materials in the 4th quarter worth $28,000. Crews Bank & Trust bought a new position in shares of Applied Materials in the fourth quarter worth about $28,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials during the fourth quarter worth about $32,000. City Holding Co. bought a new position in Applied Materials in the 4th quarter worth approximately $39,000. Finally, Atala Financial Inc bought a new position in shares of Applied Materials during the fourth quarter worth $45,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company's stock in a transaction dated Monday, February 24th. The stock was 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 owns 6,479 shares of the company's stock, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary E. Dickerson acquired 50,000 shares of the business's stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,716,058 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.24% of the company's stock.

Applied Materials Stock Down 0.5 %

Shares of AMAT traded down $0.73 during midday trading on Friday, reaching $137.46. 6,485,904 shares of the stock were exchanged, compared to its average volume of 6,643,842. 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, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89. The company's 50 day moving average is $152.67 and its two-hundred day moving average is $170.78. The company has a market capitalization of $111.68 billion, a P/E ratio of 17.97, a PEG ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials declared that its Board of Directors has authorized a share buyback plan 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 plans are generally a sign that the company's management believes its stock is undervalued.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's dividend payout ratio (DPR) is currently 24.05%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Stifel Nicolaus decreased their target price on Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research report on Tuesday. Bank of America lowered their target price on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a research report on Wednesday. Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target on the stock in a research report on Friday, March 28th. Susquehanna lifted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 22nd. Finally, Citigroup decreased their target price 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 analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Applied Materials presently has a consensus rating of "Moderate Buy" and an average target price of $210.29.

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.