Truvestments Capital LLC Lowers Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Truvestments Capital LLC lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,472 shares of the manufacturing equipment provider’s stock after selling 877 shares during the quarter. Truvestments Capital LLC’s holdings in Applied Materials were worth $3,004,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of AMAT. Crews Bank & Trust purchased a new position in Applied Materials in the 4th quarter worth about $28,000. FPC Investment Advisory Inc. purchased a new position in Applied Materials in the 4th quarter worth about $28,000. YANKCOM Partnership purchased a new position in Applied Materials in the 4th quarter worth about $32,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials in the 3rd quarter worth about $37,000. Finally, City Holding Co. purchased a new position in Applied Materials in the 4th quarter worth about $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the stock in a transaction on 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 owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.24% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on AMAT shares. Susquehanna boosted their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Cantor Fitzgerald restated an “overweight” rating and set a $250.00 price target on shares of Applied Materials in a research note on Friday, November 15th. Needham & Company LLC cut their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Evercore ISI cut their price target 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. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $146.99 on Wednesday. The stock’s fifty day moving average is $173.37 and its 200 day moving average is $180.06. The firm has a market capitalization of $119.42 billion, a PE ratio of 19.21, a PEG ratio of 1.81 and a beta of 1.62. 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, Inc. has a fifty-two week low of $145.37 and a fifty-two week high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. On average, sell-side 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 outstanding shares. This buyback authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.25%. 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 dividend payout ratio is 20.92%.

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.