Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. cut its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 6.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 855,139 shares of the manufacturing equipment provider’s stock after selling 62,311 shares during the period. Russell Investments Group Ltd. owned approximately 0.11% of Applied Materials worth $139,173,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMAT. Field & Main Bank boosted its position in Applied Materials by 1.8% in the 4th quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after buying an additional 55 shares during the last quarter. Bank of New Hampshire boosted its holdings in Applied Materials by 0.8% in the fourth quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock valued at $1,138,000 after acquiring an additional 56 shares during the last quarter. Grove Bank & Trust raised its holdings in Applied Materials by 0.8% during the 4th quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock worth $1,202,000 after purchasing an additional 60 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its position in Applied Materials by 0.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock valued at $2,375,000 after purchasing an additional 60 shares during the period. Finally, Mezzasalma Advisors LLC grew its holdings in Applied Materials by 3.0% during the 4th quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock worth $335,000 after acquiring an additional 60 shares during the period. Institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on AMAT. Needham & Company LLC reduced their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. KeyCorp upgraded shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price objective for the company in a research report on Friday, January 17th. Edward Jones upgraded Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Citigroup raised their target price on shares of Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a report on Tuesday, February 18th. Finally, Stifel Nicolaus reduced their price target on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $214.67.

Applied Materials Price Performance

AMAT stock opened at $126.95 on Friday. Applied Materials, Inc. has a 52-week low of $123.94 and a 52-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 $103.14 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.81 and a beta of 1.61. The firm has a 50 day moving average price of $162.19 and a 200-day moving average price of $175.37.

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

Applied Materials Increases Dividend

The business also recently disclosed 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 is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.45%. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Applied Materials announced that its Board of Directors has approved a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 450 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now owns 6,077 shares in the company, valued at approximately $880,131.91. This trade represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Company 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.