Gulf International Bank UK Ltd Trims Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Gulf International Bank UK Ltd decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% during the fourth quarter, Holdings Channel reports. The fund owned 64,282 shares of the manufacturing equipment provider’s stock after selling 731 shares during the period. Gulf International Bank UK Ltd’s holdings in Applied Materials were worth $10,454,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Swedbank AB boosted its position in shares of Applied Materials by 2.6% in the 3rd quarter. Swedbank AB now owns 4,244,566 shares of the manufacturing equipment provider’s stock worth $857,615,000 after purchasing an additional 108,827 shares in the last quarter. Diversify Advisory Services LLC boosted its position in shares of Applied Materials by 211.6% in the 3rd quarter. Diversify Advisory Services LLC now owns 6,721 shares of the manufacturing equipment provider’s stock worth $1,358,000 after purchasing an additional 4,564 shares in the last quarter. Farmers & Merchants Investments Inc. boosted its position in shares of Applied Materials by 170.4% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 1,587 shares of the manufacturing equipment provider’s stock worth $321,000 after purchasing an additional 1,000 shares in the last quarter. Valmark Advisers Inc. boosted its position in shares of Applied Materials by 23.8% in the 3rd quarter. Valmark Advisers Inc. now owns 1,799 shares of the manufacturing equipment provider’s stock worth $363,000 after purchasing an additional 346 shares in the last quarter. Finally, Vanguard Capital Wealth Advisors lifted its position in Applied Materials by 15.7% in the 3rd quarter. Vanguard Capital Wealth Advisors now owns 5,910 shares of the manufacturing equipment provider’s stock valued at $1,194,000 after acquiring an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

Shares of NASDAQ:AMAT opened at $168.51 on Thursday. The firm has a market cap of $136.95 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.81 and a beta of 1.53. The firm’s 50 day simple moving average is $175.59 and its 200-day simple moving average is $183.46. Applied Materials, Inc. has a one year low of $158.96 and a one year high of $255.89. 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) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating 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 analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Stockholders of record on Thursday, February 20th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Thursday, February 20th. Applied Materials’s payout ratio is presently 20.92%.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on AMAT shares. Mizuho lowered their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. The Goldman Sachs Group lowered their price target on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays lowered their price target on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Stifel Nicolaus lowered their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Evercore ISI reduced their price objective on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials 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.