Generali Investments Management Co LLC Acquires New Shares in Applied Materials, Inc. (NASDAQ:AMAT)

Generali Investments Management Co LLC acquired a new position in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 14,722 shares of the manufacturing equipment provider's stock, valued at approximately $2,394,000.

Several other institutional investors have also recently added to or reduced their stakes in AMAT. Biltmore Family Office LLC boosted its stake in shares of Applied Materials by 5.3% in the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider's stock valued at $221,000 after purchasing an additional 55 shares during the period. Field & Main Bank lifted its stake in shares of Applied Materials by 1.8% in the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider's stock worth $516,000 after acquiring an additional 55 shares in 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 purchasing an additional 56 shares during the last quarter. Grove Bank & Trust grew its stake 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 valued at $1,202,000 after purchasing an additional 60 shares in the last quarter. Finally, 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 worth $2,375,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company's stock.

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Applied Materials Stock Performance

Shares of NASDAQ AMAT traded down $2.26 during midday trading on Friday, reaching $152.12. 15,887,839 shares of the company traded hands, compared to its average volume of 5,887,441. The company has a market cap of $123.59 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.81 and a beta of 1.62. The stock has a 50-day moving average price of $170.32 and a 200 day moving average price of $177.89. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89. 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 (NASDAQ:AMAT - Get Free Report) last issued its quarterly 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%. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.21%. Applied Materials's payout ratio is 24.05%.

Applied Materials announced that its board has initiated a share repurchase program on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AMAT shares. Citigroup upped their price target on shares of Applied Materials from $194.00 to $202.00 and gave the company a "buy" rating in a report on Tuesday, February 18th. Mizuho decreased their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating for the company in a research note on Friday, January 10th. Susquehanna lifted their target price on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a research report on Wednesday, January 22nd. Sanford C. Bernstein dropped their price target on Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a research report on Friday, November 29th. Finally, The Goldman Sachs Group decreased their price objective 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $215.38.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is owned by corporate insiders.

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.