Systematic Alpha Investments LLC Sells 2,530 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Systematic Alpha Investments LLC lowered its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 317,598 shares of the manufacturing equipment provider's stock after selling 2,530 shares during the period. Applied Materials makes up approximately 1.9% of Systematic Alpha Investments LLC's holdings, making the stock its 11th biggest position. Systematic Alpha Investments LLC's holdings in Applied Materials were worth $51,651,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in AMAT. IHT Wealth Management LLC lifted its stake in shares of Applied Materials by 27.5% in the third quarter. IHT Wealth Management LLC now owns 10,566 shares of the manufacturing equipment provider's stock worth $2,126,000 after buying an additional 2,279 shares during the last quarter. Rench Wealth Management Inc. lifted its position in Applied Materials by 4.0% during the 3rd quarter. Rench Wealth Management Inc. now owns 31,428 shares of the manufacturing equipment provider's stock worth $6,350,000 after acquiring an additional 1,195 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in Applied Materials by 23.7% during the third quarter. Quantinno Capital Management LP now owns 75,324 shares of the manufacturing equipment provider's stock valued at $15,219,000 after acquiring an additional 14,410 shares during the period. Stevens Capital Management LP grew its position in shares of Applied Materials by 9.3% in the third quarter. Stevens Capital Management LP now owns 1,317 shares of the manufacturing equipment provider's stock valued at $266,000 after purchasing an additional 112 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Applied Materials by 1.8% in the third quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider's stock worth $7,841,178,000 after purchasing an additional 672,548 shares during the period. Institutional investors own 80.56% of the company's stock.

Remove Ads

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now owns 6,479 shares of the company's stock, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

AMAT has been the subject of several recent analyst reports. Barclays decreased their target price on Applied Materials from $200.00 to $190.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. KeyCorp upgraded 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 research note on Friday, January 17th. Citigroup raised their price target on shares of Applied Materials from $194.00 to $202.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Finally, Needham & Company LLC cut 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. 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. Based on data from MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and an average price target of $214.67.

Applied Materials Price Performance

Applied Materials stock traded down $8.56 during trading hours on Friday, hitting $126.95. 15,559,633 shares of the stock were exchanged, compared to its average volume of 6,375,326. Applied Materials, Inc. has a 12 month low of $123.94 and a 12 month high of $255.89. The business's 50-day moving average is $162.19 and its two-hundred day moving average is $175.27. 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 stock has a market capitalization of $103.14 billion, a P/E ratio of 16.59, a P/E/G 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 return on equity of 39.50% and a net margin of 22.95%. Equities research analysts expect 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 stock repurchase plan on Monday, March 10th that allows the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's management believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This is a positive change from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.45%. Applied Materials's dividend payout ratio (DPR) is 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.