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

Mariner LLC trimmed its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 285,710 shares of the manufacturing equipment provider's stock after selling 65,180 shares during the quarter. Mariner LLC's holdings in Applied Materials were worth $46,467,000 at the end of the most recent quarter.

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

Applied Materials Stock Down 0.5 %

Shares of NASDAQ AMAT traded down $0.73 during mid-day trading on Friday, reaching $137.46. The company had a trading volume of 6,485,904 shares, 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 stock has a market cap of $111.68 billion, a P/E ratio of 17.97, a PEG ratio of 1.81 and a beta of 1.61. The firm has a 50 day simple moving average of $152.67 and a two-hundred day simple moving average of $170.78.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued 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%. Sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.34%. This is a boost from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's payout ratio is presently 24.05%.

Insider Activity

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company decreased their target price on Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a report on Monday, January 13th. 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 note on Friday, April 11th. Stifel Nicolaus cut their target price on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a report on Tuesday. Needham & Company LLC lowered their price objective on shares of Applied Materials from $200.00 to $195.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Finally, Bank of America lowered their price target on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $210.29.

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.