Russell Investments Group Ltd. Has $139.17 Million Stock Position in Applied Materials, Inc. (NASDAQ:AMAT)

Russell Investments Group Ltd. decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 6.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 855,139 shares of the manufacturing equipment provider's stock after selling 62,311 shares during the quarter. Russell Investments Group Ltd. owned about 0.11% of Applied Materials worth $139,173,000 as of its most recent SEC filing.

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

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Applied Materials Price Performance

Shares of AMAT stock traded up $5.90 during trading hours on Monday, reaching $132.85. 18,929,985 shares of the company were exchanged, compared to its average volume of 6,425,377. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The company has a market cap of $107.93 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.81 and a beta of 1.61. The stock's fifty day moving average is $162.19 and its two-hundred day moving average is $175.20. Applied Materials, Inc. has a fifty-two week low of $121.86 and a fifty-two week 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 EPS for the quarter, beating 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%. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This is an increase from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 1.39%. Applied Materials's dividend payout ratio is presently 24.05%.

Applied Materials declared that its board has initiated a stock buyback program on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Analyst Ratings Changes

AMAT has been the topic of several research analyst reports. Susquehanna raised their price target on shares of Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. The Goldman Sachs Group lowered their price target on Applied Materials from $230.00 to $202.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Stifel Nicolaus reduced their price objective on Applied Materials from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a research report on Wednesday, March 12th. Finally, Needham & Company LLC reduced their target price on Applied Materials from $200.00 to $195.00 and set a "buy" rating for the company in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $214.67.

Insider Activity

In other Applied Materials news, CEO Gary E. Dickerson acquired 50,000 shares of Applied Materials stock in a transaction on Thursday, April 3rd. The shares were purchased at an average cost of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the purchase, the chief executive officer now owns 1,716,058 shares in the company, valued at $235,614,763.40. The trade was a 3.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Adam Sanders sold 450 shares of the company'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 of the company's stock, valued at $880,131.91. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.24% of the company's stock.

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.