Arvest Bank Trust Division Decreases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Arvest Bank Trust Division reduced its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 25.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of AMAT. Field & Main Bank lifted its holdings in shares of Applied Materials by 1.8% during the 4th 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 in the last quarter. Bank of New Hampshire boosted its holdings in shares of 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 buying an additional 56 shares during the period. Grove Bank & Trust increased its position in shares of Applied Materials by 0.8% during the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock worth $1,202,000 after acquiring an additional 60 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in Applied Materials by 0.4% in 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 during the period. Finally, Mezzasalma Advisors LLC increased its holdings in Applied Materials by 3.0% during the 4th quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock worth $335,000 after purchasing an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on AMAT shares. 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 report on Friday, March 28th. The Goldman Sachs Group dropped their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. 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. Bank of America dropped their target price on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Citigroup dropped their price target on Applied Materials from $202.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $210.29.

Applied Materials Stock Down 5.0 %

Shares of AMAT stock opened at $138.19 on Thursday. 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 company has a 50 day simple moving average of $154.51 and a two-hundred day simple moving average of $171.64. The stock has a market cap of $112.27 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.81 and a beta of 1.61. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month 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 net margin of 22.95% and a return on equity of 39.50%. On average, research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its board has authorized a share buyback program on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a 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 dividend payout ratio is presently 24.05%.

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.