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

Leelyn Smith LLC lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,281 shares of the manufacturing equipment provider’s stock after selling 96 shares during the period. Applied Materials accounts for about 0.8% of Leelyn Smith LLC’s holdings, making the stock its 25th biggest position. Leelyn Smith LLC’s holdings in Applied Materials were worth $4,762,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AMAT. Crews Bank & Trust purchased a new stake in shares of Applied Materials during the fourth quarter worth approximately $28,000. FPC Investment Advisory Inc. purchased a new position in Applied Materials during the 4th quarter worth $28,000. YANKCOM Partnership purchased a new position in Applied Materials during the 4th quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials in the 3rd quarter worth $37,000. Finally, City Holding Co. purchased a new stake in shares of Applied Materials in the fourth quarter valued at about $39,000. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the 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 transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on AMAT shares. Needham & Company LLC reduced 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. KeyCorp raised Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a report on Friday, January 17th. Edward Jones upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Susquehanna increased their price objective on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Finally, Mizuho decreased their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Stock Down 0.1 %

AMAT opened at $155.46 on Tuesday. The firm has a market cap of $126.30 billion, a P/E ratio of 20.32, a PEG ratio of 1.81 and a beta of 1.62. The business’s fifty day simple moving average is $172.10 and its 200 day simple moving average is $178.88. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results 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%. As a group, equities research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its board has initiated a stock buyback program 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 programs are usually a sign that the company’s board believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently declared 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 1.18%. The ex-dividend date is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is currently 24.05%.

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.