Vanguard Group Inc. Grows Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Vanguard Group Inc. raised its stake in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 0.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 77,039,667 shares of the manufacturing equipment provider's stock after buying an additional 487,358 shares during the period. Vanguard Group Inc. owned about 9.48% of Applied Materials worth $12,528,961,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in AMAT. EdgePoint Investment Group Inc. lifted its position in shares of 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 worth $577,288,000 after purchasing an additional 2,209,218 shares during the period. Janus Henderson Group PLC lifted its holdings in Applied Materials by 67.8% in the third quarter. Janus Henderson Group PLC now owns 4,663,133 shares of the manufacturing equipment provider's stock valued at $942,187,000 after buying an additional 1,884,153 shares during the period. Raymond James Financial Inc. bought a new stake in Applied Materials during the fourth quarter valued at $182,962,000. Alecta Tjanstepension Omsesidigt acquired a new stake in Applied Materials during the 4th quarter worth about $157,426,000. Finally, Flossbach Von Storch SE raised its position in shares of 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 worth $260,221,000 after acquiring an additional 893,995 shares in the last quarter. Institutional investors own 80.56% of the company's stock.

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Insider Buying and Selling

In related news, CAO Adam Sanders sold 271 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the sale, the chief accounting officer now owns 6,479 shares of the company's stock, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on AMAT shares. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Citigroup raised their price objective on shares of Applied Materials from $194.00 to $202.00 and gave the stock a "buy" rating in a research report on Tuesday, February 18th. Wells Fargo & Company dropped their target price on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating on the stock in a research report on Monday, January 13th. Barclays decreased 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 note on Friday, February 14th. Finally, Needham & Company LLC cut 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 report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Applied Materials presently has an average rating of "Moderate Buy" and a consensus target price of $215.38.

Applied Materials Stock Performance

NASDAQ AMAT traded down $3.00 on Thursday, hitting $147.68. 6,892,582 shares of the stock traded hands, compared to its average volume of 5,912,271. The firm has a market capitalization 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 business's fifty day moving average is $168.27 and its two-hundred day moving average is $177.14. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. Applied Materials, Inc. has a 12 month low of $145.37 and a 12 month high of $255.89.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. As a group, equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its Board of Directors has initiated a share repurchase program on Monday, March 10th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's dividend 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.