Synovus Financial Corp Purchases 1,923 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Synovus Financial Corp lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 4.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 47,546 shares of the manufacturing equipment provider's stock after purchasing an additional 1,923 shares during the quarter. Synovus Financial Corp's holdings in Applied Materials were worth $7,733,000 as of its most recent SEC filing.

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

Applied Materials Stock Down 0.2 %

NASDAQ:AMAT traded down $0.23 on Thursday, hitting $137.96. The stock had a trading volume of 3,209,080 shares, compared to its average volume of 6,628,392. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a 52 week low of $123.74 and a 52 week high of $255.89. The business's fifty day moving average is $154.51 and its 200 day moving average is $171.64. The company has a market cap of $112.08 billion, a PE ratio of 18.07, a P/E/G ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating 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%. On average, equities research analysts expect 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 represents a $1.84 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend is Thursday, May 22nd. This is an increase from Applied Materials's previous quarterly dividend of $0.40. Applied Materials's dividend payout ratio (DPR) is 24.05%.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America dropped their target price on shares of Applied Materials from $205.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday. Citigroup decreased their price objective on Applied Materials from $202.00 to $170.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Jefferies Financial Group upgraded shares of Applied Materials from a "hold" rating to a "buy" rating and set a $195.00 price target for the company in a research report on Friday, March 28th. Stifel Nicolaus reduced their price objective on shares of Applied Materials from $235.00 to $195.00 and set a "buy" rating on the stock in a research note on Tuesday. Finally, Susquehanna boosted their price target on Applied Materials from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Applied Materials has a consensus rating of "Moderate Buy" and a consensus price target of $210.29.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the stock in a transaction on Monday, February 24th. The stock was 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary E. Dickerson acquired 50,000 shares of the stock in a transaction that occurred on Thursday, April 3rd. The stock was purchased at an average price of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the purchase, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00 % increase in their position. The disclosure for this purchase can be found here. 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.