SevenBridge Financial Group LLC lifted its holdings in Applied Materials (NASDAQ:AMAT) by 957.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,380 shares of the manufacturing equipment provider’s stock after purchasing an additional 2,155 shares during the quarter. SevenBridge Financial Group LLC’s holdings in Applied Materials were worth $122,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Nisa Investment Advisors LLC lifted its holdings in shares of Applied Materials by 9.2% in the fourth quarter. Nisa Investment Advisors LLC now owns 461,793 shares of the manufacturing equipment provider’s stock valued at $23,607,000 after buying an additional 38,960 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Applied Materials by 1.1% in the third quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after buying an additional 64,186 shares during the period. Elite Wealth Management Inc. acquired a new stake in shares of Applied Materials in the fourth quarter valued at $635,000. Janus Henderson Group PLC lifted its holdings in shares of Applied Materials by 5.7% in the third quarter. Janus Henderson Group PLC now owns 12,097,037 shares of the manufacturing equipment provider’s stock valued at $630,146,000 after buying an additional 650,755 shares during the period. Finally, Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in shares of Applied Materials by 25.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 49,814 shares of the manufacturing equipment provider’s stock valued at $2,547,000 after buying an additional 10,200 shares during the period. 79.28% of the stock is owned by institutional investors.
Shares of AMAT stock opened at $59.65 on Wednesday. The stock has a market capitalization of $61,465.19, a PE ratio of 22.35, a P/E/G ratio of 1.11 and a beta of 1.58. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.96 and a quick ratio of 2.25. Applied Materials has a one year low of $37.41 and a one year high of $62.40.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings data on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.08. The firm had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.10 billion. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. During the same period in the prior year, the business earned $0.67 EPS. analysts predict that Applied Materials will post 4.39 earnings per share for the current year.
Applied Materials announced that its Board of Directors has initiated a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to purchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 14th. Investors of record on Thursday, May 24th will be paid a $0.20 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.10. This represents a $0.80 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Wednesday, May 23rd. Applied Materials’s dividend payout ratio is currently 15.09%.
In related news, VP Ali Salehpour sold 125,125 shares of the stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen R. Forrest sold 4,000 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $53.67, for a total value of $214,680.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 322,716 shares of company stock valued at $16,850,796. Company insiders own 0.35% of the company’s stock.
Several analysts have recently weighed in on AMAT shares. UBS upgraded Applied Materials from a “neutral” rating to a “positive” rating in a report on Tuesday, January 16th. Zacks Investment Research upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Monday, February 19th. Needham & Company LLC upgraded Applied Materials from a “buy” rating to a “strong-buy” rating and upped their price objective for the company from $66.00 to $72.00 in a report on Monday, January 8th. Bank of America started coverage on Applied Materials in a report on Wednesday. They issued a “buy” rating and a $59.23 price objective for the company. Finally, Susquehanna Bancshares upgraded Applied Materials from a “neutral” rating to a “positive” rating and upped their price objective for the company from $60.00 to $72.00 in a report on Tuesday, January 16th. Twenty-five equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. Applied Materials has a consensus rating of “Buy” and an average price target of $63.58.
About Applied Materials
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries worldwide. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells a range of manufacturing equipment used to fabricate semiconductor chips or integrated circuits.
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