Insight 2811 Inc. Cuts Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Insight 2811 Inc. lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 8.4% during the fourth quarter, HoldingsChannel reports. The fund owned 2,630 shares of the manufacturing equipment provider’s stock after selling 240 shares during the period. Insight 2811 Inc.’s holdings in Applied Materials were worth $428,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in shares of Applied Materials by 8.6% in the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock valued at $340,895,000 after purchasing an additional 164,085 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Applied Materials by 62.6% during the third quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock worth $343,138,000 after buying an additional 653,739 shares during the period. Pensionfund Sabic increased its holdings in Applied Materials by 38.9% in the fourth quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider’s stock valued at $2,147,000 after buying an additional 3,700 shares in the last quarter. Brookstone Capital Management boosted its stake in shares of Applied Materials by 59.1% during the 4th quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock worth $7,380,000 after acquiring an additional 16,851 shares in the last quarter. Finally, Advisors Management Group Inc. ADV acquired a new stake in shares of Applied Materials in the 4th quarter worth approximately $339,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 1.9 %

NASDAQ AMAT opened at $154.95 on Tuesday. The company has a market cap of $125.89 billion, a P/E ratio of 20.25, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The company has a 50-day moving average of $170.00 and a 200-day moving average of $177.68.

Applied Materials (NASDAQ:AMAT) last issued its quarterly 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 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 earnings per share for the current year.

Applied Materials announced that its Board of Directors has authorized a share repurchase program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date is Thursday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is 24.05%.

Insiders Place Their Bets

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 transaction 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. 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 accessible through this hyperlink. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Mizuho decreased their target price 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. Needham & Company LLC lowered their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. 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 report on Tuesday, February 11th. Barclays lowered their price target on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, Susquehanna lifted 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. One equities research 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

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.