Arvest Bank Trust Division Reduces Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Arvest Bank Trust Division reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 25.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,976 shares of the manufacturing equipment provider’s stock after selling 16,805 shares during the period. Arvest Bank Trust Division’s holdings in Applied Materials were worth $8,128,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co raised its stake in shares of Applied Materials by 22.2% during the 4th quarter. CANADA LIFE ASSURANCE Co now owns 1,263,524 shares of the manufacturing equipment provider’s stock valued at $205,362,000 after buying an additional 229,280 shares during the last quarter. Ally Financial Inc. acquired a new position in Applied Materials in the fourth quarter valued at approximately $1,952,000. Canada Pension Plan Investment Board lifted its holdings in Applied Materials by 25.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 873,154 shares of the manufacturing equipment provider’s stock valued at $142,001,000 after acquiring an additional 174,403 shares during the period. GKV Capital Management Co. Inc. acquired a new stake in shares of Applied Materials during the 4th quarter worth approximately $3,172,000. Finally, First Commonwealth Financial Corp PA increased its holdings in shares of Applied Materials by 7.0% during the 4th quarter. First Commonwealth Financial Corp PA now owns 5,506 shares of the manufacturing equipment provider’s stock valued at $895,000 after purchasing an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Wells Fargo & Company dropped their target price on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Susquehanna upped their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Jefferies Financial Group raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Friday, March 28th. Citigroup decreased their price target on shares of Applied Materials from $202.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Finally, Barclays reduced their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. 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 stock. According to data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $210.29.

Insider Activity at Applied Materials

In related news, CEO Gary E. Dickerson purchased 50,000 shares of the company’s stock in a transaction dated Thursday, April 3rd. The shares were acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the transaction, the chief executive officer now owns 1,716,058 shares of the company’s stock, valued at $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Adam Sanders sold 450 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the transaction, the chief accounting officer now owns 6,077 shares of the company’s stock, valued at $880,131.91. This represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Trading Down 5.0 %

Shares of Applied Materials stock opened at $138.19 on Thursday. The firm has a market cap of $112.27 billion, a PE ratio of 18.06, a P/E/G ratio of 1.81 and a beta of 1.61. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.89. The business’s fifty day moving average is $154.51 and its two-hundred day moving average is $171.64.

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%. Analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.33%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s payout ratio is 24.05%.

Applied Materials declared that its board has approved a stock buyback 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 reacquire up to 8.2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.