Frank Rimerman Advisors LLC Sells 1,595 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Frank Rimerman Advisors LLC cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,558 shares of the manufacturing equipment provider’s stock after selling 1,595 shares during the period. Frank Rimerman Advisors LLC’s holdings in Applied Materials were worth $2,855,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Clearstead Trust LLC bought a new stake in shares of Applied Materials during the 4th quarter valued at $846,000. Copperwynd Financial LLC bought a new stake in shares of Applied Materials during the 4th quarter valued at $728,000. Hills Bank & Trust Co raised its position in shares of Applied Materials by 6.6% during the 4th quarter. Hills Bank & Trust Co now owns 1,061 shares of the manufacturing equipment provider’s stock valued at $173,000 after purchasing an additional 66 shares during the period. Carret Asset Management LLC raised its position in shares of Applied Materials by 0.6% during the 4th quarter. Carret Asset Management LLC now owns 35,180 shares of the manufacturing equipment provider’s stock valued at $5,721,000 after purchasing an additional 200 shares during the period. Finally, Midwest Professional Planners LTD. raised its position in shares of Applied Materials by 0.8% during the 4th quarter. Midwest Professional Planners LTD. now owns 24,629 shares of the manufacturing equipment provider’s stock valued at $4,005,000 after purchasing an additional 200 shares during the period. 80.56% of the stock is currently owned by institutional investors.

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction dated Monday, February 24th. The shares were 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 $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Morgan Stanley restated an “underweight” rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Needham & Company LLC cut their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company cut their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Stifel Nicolaus cut their target price on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Evercore ISI cut their target price on shares of 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Price Performance

AMAT stock opened at $155.66 on Friday. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a 50-day moving average price of $172.54 and a 200 day moving average price of $179.36. The stock has a market cap of $126.46 billion, a PE ratio of 20.35, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities research analysts anticipate 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 share repurchase plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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 issued a dividend of $0.46 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.18%. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

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.