Sienna Gestion Decreases Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Sienna Gestion lessened its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 20.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 112,800 shares of the manufacturing equipment provider’s stock after selling 29,414 shares during the quarter. Applied Materials comprises approximately 1.2% of Sienna Gestion’s portfolio, making the stock its 13th biggest position. Sienna Gestion’s holdings in Applied Materials were worth $18,342,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crews Bank & Trust purchased a new stake in shares of Applied Materials during the fourth quarter valued at $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials in the fourth quarter valued at about $28,000. YANKCOM Partnership purchased a new position in shares of Applied Materials in the fourth quarter worth about $32,000. MidAtlantic Capital Management Inc. acquired a new stake in shares of Applied Materials during the third quarter worth about $37,000. Finally, City Holding Co. purchased a new stake in Applied Materials in the fourth quarter valued at approximately $39,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

Applied Materials Stock Performance

NASDAQ AMAT opened at $149.95 on Friday. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two week high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The firm has a market capitalization of $121.83 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The stock’s fifty day moving average is $172.82 and its two-hundred day moving average is $179.64.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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 anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials declared that its board has approved a stock repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This is a positive change 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 annualized dividend and a dividend yield of 1.23%. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMAT shares. Stifel Nicolaus dropped their price objective on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Mizuho cut their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Barclays decreased their price objective 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. Bank of America dropped their target price on Applied Materials from $220.00 to $210.00 and set a “buy” rating on the stock in a report on Friday, November 15th. Finally, Wells Fargo & Company decreased their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Applied Materials has an average rating of “Moderate Buy” and an average target price of $215.38.

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.