Commonwealth Equity Services LLC Purchases 3,029 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Commonwealth Equity Services LLC boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 343,463 shares of the manufacturing equipment provider’s stock after purchasing an additional 3,029 shares during the period. Commonwealth Equity Services LLC’s holdings in Applied Materials were worth $55,857,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. EdgePoint Investment Group Inc. increased its position in Applied Materials by 341.0% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 2,857,155 shares of the manufacturing equipment provider’s stock valued at $577,288,000 after acquiring an additional 2,209,218 shares in the last quarter. Janus Henderson Group PLC increased its position in Applied Materials by 67.8% in the 3rd quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider’s stock valued at $942,187,000 after acquiring an additional 1,884,153 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Applied Materials in the 4th quarter valued at about $182,962,000. Alecta Tjanstepension Omsesidigt acquired a new stake in Applied Materials in the 4th quarter valued at about $157,426,000. Finally, Flossbach Von Storch SE increased its position in Applied Materials by 126.6% in the 4th quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock valued at $260,221,000 after acquiring an additional 893,995 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction on 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. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on AMAT. Barclays lowered their price target 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. Morgan Stanley reiterated an “underweight” rating and set a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. The Goldman Sachs Group lowered 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. Bank of America lowered their price target on shares of Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Finally, Susquehanna boosted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $215.38.

Applied Materials Stock Performance

Shares of AMAT stock opened at $155.66 on Friday. The company’s fifty day simple moving average is $172.54 and its 200-day simple moving average is $179.36. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The firm has a market cap of $126.46 billion, a PE ratio of 20.35, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Equities research analysts expect that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials declared that its board has approved a stock buyback plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.18%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s payout ratio is presently 24.05%.

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.