First American Trust FSB Sells 98 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

First American Trust FSB reduced its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 3.3% in the fourth quarter, HoldingsChannel reports. The firm owned 2,831 shares of the manufacturing equipment provider’s stock after selling 98 shares during the quarter. First American Trust FSB’s holdings in Applied Materials were worth $460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Crews Bank & Trust bought a new stake in Applied Materials during the fourth quarter valued at approximately $28,000. FPC Investment Advisory Inc. purchased a new position in shares of Applied Materials during the 4th quarter worth $28,000. YANKCOM Partnership purchased a new position in shares of Applied Materials during the 4th quarter worth $32,000. City Holding Co. bought a new stake in shares of Applied Materials during the 4th quarter valued at $39,000. Finally, Dunhill Financial LLC increased its stake in shares of Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after purchasing an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.24% of the company’s stock.

Applied Materials Stock Performance

Applied Materials stock opened at $153.64 on Wednesday. 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 twelve month low of $145.37 and a twelve month high of $255.89. The company’s 50-day moving average price is $169.60 and its 200-day moving average price is $177.53. The company has a market cap of $124.82 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

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

Applied Materials Increases Dividend

The company 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 dividend of $0.46 per share. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.20%. Applied Materials’s payout ratio is 24.05%.

Analyst Ratings Changes

Several analysts have issued reports on the company. 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 report on Friday, February 14th. Sanford C. Bernstein cut their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Wells Fargo & Company decreased their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. The Goldman Sachs Group dropped their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Barclays decreased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Applied Materials presently has a consensus rating of “Moderate Buy” and an average price target of $215.38.

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.