Holderness Investments Co. Sells 1,970 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Holderness Investments Co. reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 65,951 shares of the manufacturing equipment provider’s stock after selling 1,970 shares during the quarter. Applied Materials makes up 2.4% of Holderness Investments Co.’s investment portfolio, making the stock its 6th largest holding. Holderness Investments Co.’s holdings in Applied Materials were worth $10,726,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Biltmore Family Office LLC boosted its stake in shares of Applied Materials by 5.3% during the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock worth $221,000 after buying an additional 55 shares during the last quarter. Field & Main Bank boosted its position in Applied Materials by 1.8% during the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after purchasing an additional 55 shares during the last quarter. Bank of New Hampshire grew its stake in Applied Materials by 0.8% in the fourth quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock valued at $1,138,000 after purchasing an additional 56 shares in the last quarter. Grove Bank & Trust increased its position in shares of Applied Materials by 0.8% during the 4th quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock worth $1,202,000 after purchasing an additional 60 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC raised its stake in shares of Applied Materials by 0.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock worth $2,375,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Up 0.6 %

NASDAQ AMAT opened at $154.46 on Thursday. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89. 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 $125.49 billion, a PE ratio of 20.19, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The business’s 50-day moving average price is $171.16 and its two-hundred day moving average price is $178.41.

Applied Materials (NASDAQ:AMAT) last released its 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 return on equity of 39.50% and a net margin of 22.95%. On average, analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials announced that its board has approved a share repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors 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 yield of 1.19%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total value 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 trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on AMAT. Barclays dropped 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. Sanford C. Bernstein cut their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Susquehanna boosted their price target on Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Needham & Company LLC reduced their target price 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. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $215.38.

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.