Aberdeen Group plc Sells 229,252 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Aberdeen Group plc decreased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 25.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 684,754 shares of the manufacturing equipment provider’s stock after selling 229,252 shares during the period. Aberdeen Group plc owned 0.08% of Applied Materials worth $98,040,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Nuveen LLC purchased a new stake in shares of Applied Materials in the first quarter worth about $1,085,600,000. Pacer Advisors Inc. lifted its position in shares of Applied Materials by 2,401.0% in the first quarter. Pacer Advisors Inc. now owns 3,066,817 shares of the manufacturing equipment provider’s stock worth $445,056,000 after buying an additional 2,944,193 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Applied Materials by 18,402.1% in the first quarter. GAMMA Investing LLC now owns 1,824,304 shares of the manufacturing equipment provider’s stock worth $2,647,430,000 after buying an additional 1,814,444 shares in the last quarter. Northern Trust Corp lifted its position in shares of Applied Materials by 18.6% in the fourth quarter. Northern Trust Corp now owns 10,230,464 shares of the manufacturing equipment provider’s stock worth $1,663,780,000 after buying an additional 1,602,645 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Applied Materials by 301.6% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider’s stock worth $318,754,000 after buying an additional 1,471,953 shares in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Down 0.9%

Shares of NASDAQ:AMAT opened at $188.24 on Friday. Applied Materials, Inc. has a 52-week low of $123.74 and a 52-week high of $215.70. The stock has a market cap of $151.06 billion, a P/E ratio of 22.90, a price-to-earnings-growth ratio of 2.12 and a beta of 1.70. The business’s 50 day moving average is $184.28 and its 200 day moving average is $166.78. The company has a quick ratio of 1.76, a current ratio of 2.46 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.12. Applied Materials had a return on equity of 40.15% and a net margin of 24.06%. The company had revenue of $7.30 billion for the quarter, compared to analysts’ expectations of $7.21 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. Applied Materials’s revenue was up 7.7% compared to the same quarter last year. Sell-side analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Shareholders of record on Thursday, August 21st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 21st. Applied Materials’s dividend payout ratio (DPR) is 22.38%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Cantor Fitzgerald set a $220.00 target price on Applied Materials and gave the stock an “overweight” rating in a research report on Tuesday, June 24th. Citigroup upped their price objective on Applied Materials from $190.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Wall Street Zen downgraded Applied Materials from a “buy” rating to a “hold” rating in a research report on Saturday, June 14th. UBS Group restated a “neutral” rating and set a $185.00 price objective (up from $175.00) on shares of Applied Materials in a research report on Monday, August 4th. Finally, Morgan Stanley upped their price objective on Applied Materials from $158.00 to $169.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 1st. Nine equities research analysts have rated the stock with a hold rating and seventeen have given 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 price target of $204.09.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 562 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the sale, the chief accounting officer owned 5,300 shares of the company’s stock, valued at approximately $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.24% of the company’s stock.

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.