Massachusetts Financial Services Co. MA Sells 766,313 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Massachusetts Financial Services Co. MA decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 49.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 777,592 shares of the manufacturing equipment provider's stock after selling 766,313 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.10% of Applied Materials worth $126,460,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in Applied Materials during the 4th quarter valued at approximately $28,000. FPC Investment Advisory Inc. purchased a new position in Applied Materials in the 4th quarter worth approximately $28,000. YANKCOM Partnership acquired a new stake in Applied Materials during the fourth quarter worth about $32,000. City Holding Co. acquired a new position in Applied Materials in the fourth quarter valued at approximately $39,000. Finally, Dunhill Financial LLC increased its stake in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock worth $43,000 after acquiring an additional 81 shares during the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMAT has been the subject of a number of research reports. Wells Fargo & Company dropped their price objective on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a report on Monday, January 13th. Needham & Company LLC reduced their target price 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. Mizuho decreased their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research note on Friday, January 10th. Susquehanna lifted their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. Finally, The Goldman Sachs Group reduced their price objective on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $214.67.

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Applied Materials Stock Down 6.3 %

Applied Materials stock traded down $8.56 during midday trading on Friday, reaching $126.95. The stock had a trading volume of 15,559,633 shares, compared to its average volume of 6,375,326. The stock has a market capitalization of $103.14 billion, a P/E ratio of 16.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a 1-year low of $123.94 and a 1-year high of $255.89. The firm's fifty day simple moving average is $162.19 and its 200-day simple moving average is $175.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT - Get Free Report) last issued 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 return on equity of 39.50% and a net margin of 22.95%. As a group, analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a $0.46 dividend. This is an increase from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.45%. Applied Materials's dividend payout ratio is presently 24.05%.

Applied Materials declared that its Board of Directors has initiated a share 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 repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the firm's 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 completion of the transaction, the chief accounting officer now directly owns 6,479 shares of the company's stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company's stock.

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.