Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,094 shares of the manufacturing equipment provider’s stock after selling 1,406 shares during the period. KCM Investment Advisors LLC’s holdings in Applied Materials were worth $7,659,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials during the 4th quarter worth $28,000. Crews Bank & Trust acquired a new position in Applied Materials in the fourth quarter valued at $28,000. YANKCOM Partnership purchased a new position in Applied Materials during the fourth quarter worth about $32,000. Dunhill Financial LLC grew its holdings in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares during the period. Finally, City Holding Co. acquired a new position in shares of Applied Materials during the 4th quarter valued at about $39,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Down 6.3 %

NASDAQ:AMAT opened at $126.95 on Friday. The stock has a market cap of $103.14 billion, a price-to-earnings ratio of 16.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a one year low of $123.94 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. The business’s 50-day simple moving average is $162.19 and its 200 day simple moving average is $175.37.

Applied Materials (NASDAQ:AMAT) last released its earnings results 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%. As a group, sell-side analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its Board of Directors has authorized a share buyback program on Monday, March 10th that allows the company to buyback $10.00 billion in outstanding 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 usually a sign that the company’s board believes its shares are undervalued.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.45%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is presently 24.05%.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMAT. Barclays decreased their target price 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. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective for the company in a research note on Friday, January 17th. Needham & Company LLC dropped their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, February 14th. Citigroup lifted their target price on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Finally, Susquehanna upped their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $214.67.

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.