Pictet Asset Management Holding SA Has $560.48 Million Position in Applied Materials, Inc. (NASDAQ:AMAT)

Pictet Asset Management Holding SA decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 13.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,446,419 shares of the manufacturing equipment provider’s stock after selling 515,145 shares during the period. Pictet Asset Management Holding SA’s holdings in Applied Materials were worth $560,483,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in shares of Applied Materials in the 4th quarter valued at $28,000. Crews Bank & Trust acquired a new stake in Applied Materials in the fourth quarter valued at about $28,000. YANKCOM Partnership bought a new position in Applied Materials in the fourth quarter valued at about $32,000. Dunhill Financial LLC raised its stake in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. Finally, City Holding Co. bought a new position in shares of Applied Materials in the fourth quarter worth about $39,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Down 2.0 %

Shares of Applied Materials stock opened at $147.68 on Friday. The stock’s 50-day moving average is $168.27 and its 200 day moving average is $177.14. Applied Materials, Inc. has a one year low of $145.37 and a one year high of $255.89. The firm has a market cap of $119.98 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 1.81 and a beta of 1.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96.

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

Applied Materials announced that its board has approved a stock buyback plan on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The business 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 is an increase from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.25%. The ex-dividend date is Thursday, May 22nd. Applied Materials’s payout ratio is 24.05%.

Insider Activity

In related news, CAO Adam Sanders sold 271 shares of the business’s 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 sale, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on AMAT. Barclays lowered their price objective on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Stifel Nicolaus dropped their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. The Goldman Sachs Group cut their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Edward Jones upgraded Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Morgan Stanley reissued an “underweight” rating and set a $164.00 price target (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.