Mitsubishi UFJ Trust & Banking Corp Has $116.19 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 714,461 shares of the manufacturing equipment provider’s stock after selling 18,687 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Applied Materials were worth $116,193,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB grew its holdings in shares of Applied Materials by 8.6% during the 4th quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock worth $340,895,000 after purchasing an additional 164,085 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Applied Materials by 62.6% in 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 purchasing an additional 653,739 shares during the period. Pensionfund Sabic boosted its stake in Applied Materials by 38.9% during the fourth quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider’s stock worth $2,147,000 after buying an additional 3,700 shares in the last quarter. Brookstone Capital Management increased its holdings in Applied Materials by 59.1% in the 4th quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock valued at $7,380,000 after buying an additional 16,851 shares during the period. Finally, Advisors Management Group Inc. ADV acquired a new position in shares of Applied Materials in the 4th quarter valued at $339,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Applied Materials

In related 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 owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AMAT. The Goldman Sachs Group decreased their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Sanford C. Bernstein decreased their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a report on Friday, November 29th. Susquehanna increased their target price on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Finally, KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target on the stock in a research report on Friday, January 17th. 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 stock. According to data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Stock Up 1.9 %

Shares of NASDAQ AMAT opened at $154.95 on Tuesday. Applied Materials, Inc. has a 1 year low of $145.37 and a 1 year high of $255.89. The firm’s 50-day moving average is $170.00 and its 200-day moving average is $177.68. 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 firm has a market capitalization of $125.89 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. Equities analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has authorized a share repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership 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 paid a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.19%. Applied Materials’s payout ratio is 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.