Nomura Asset Management Co. Ltd. Has $170.58 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Nomura Asset Management Co. Ltd. lowered its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 30.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,048,864 shares of the manufacturing equipment provider's stock after selling 469,791 shares during the quarter. Applied Materials comprises approximately 0.5% of Nomura Asset Management Co. Ltd.'s investment portfolio, making the stock its 29th biggest holding. Nomura Asset Management Co. Ltd. owned 0.13% of Applied Materials worth $170,577,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Field & Main Bank boosted its position in Applied Materials by 1.8% in the fourth 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 in the last quarter. Bank of New Hampshire boosted its holdings in shares of Applied Materials by 0.8% in the 4th quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider's stock worth $1,138,000 after acquiring an additional 56 shares in the last quarter. Grove Bank & Trust grew its position 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 acquiring an additional 60 shares during the last quarter. Cyndeo Wealth Partners LLC increased its holdings 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 in the last quarter. Finally, Mezzasalma Advisors LLC raised its position in Applied Materials by 3.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider's stock valued at $335,000 after purchasing an additional 60 shares during the last quarter. Institutional investors own 80.56% of the company's stock.

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Applied Materials Stock Down 1.2 %

AMAT traded down $1.75 during trading on Monday, reaching $143.31. The company had a trading volume of 2,218,926 shares, compared to its average volume of 6,783,068. 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, Inc. has a 12 month low of $141.16 and a 12 month high of $255.89. The business's fifty day moving average price is $167.33 and its 200 day moving average price is $176.84. The company has a market cap of $116.43 billion, a P/E ratio of 18.74, a PEG ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT - Get Free Report) last announced 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 analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The company also recently announced 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 a boost from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.28%. Applied Materials's payout ratio is presently 24.05%.

Applied Materials declared that its Board of Directors has authorized a stock buyback plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently commented on AMAT shares. Mizuho decreased their target price on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Barclays reduced their target price on shares of Applied Materials from $200.00 to $190.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. 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 report on Friday, January 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $214.67.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 271 shares of the 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 completion of the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.24% of the company's stock.

About Applied Materials

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.