Thrivent Financial for Lutherans Increases Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Thrivent Financial for Lutherans increased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,023,598 shares of the manufacturing equipment provider's stock after purchasing an additional 27,459 shares during the quarter. Thrivent Financial for Lutherans owned approximately 0.13% of Applied Materials worth $166,730,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in AMAT. FPC Investment Advisory Inc. purchased a new position in Applied Materials during the 4th quarter valued at approximately $28,000. Crews Bank & Trust purchased a new position in Applied Materials during the 4th quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. purchased a new position in Applied Materials during the 3rd quarter valued at approximately $37,000. YANKCOM Partnership purchased a new position in Applied Materials during the 4th quarter valued at approximately $32,000. Finally, Dunhill Financial LLC grew its holdings in Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider's stock valued at $43,000 after buying an additional 81 shares in the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Insider Activity

In other 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 approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.24% of the company's stock.

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Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Edward Jones upgraded Applied Materials from a "hold" rating to a "buy" rating in a report on Wednesday, March 12th. Wells Fargo & Company lowered their price objective on Applied Materials from $210.00 to $200.00 and set an "overweight" rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group lowered their price objective on Applied Materials from $230.00 to $202.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Morgan Stanley reaffirmed an "underweight" rating and issued a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Finally, Needham & Company LLC lowered their price objective on Applied Materials from $200.00 to $195.00 and set a "buy" rating for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Applied Materials has an average rating of "Moderate Buy" and a consensus price target of $215.38.

Applied Materials Trading Down 1.5 %

AMAT traded down $2.26 during trading on Friday, hitting $152.12. 15,887,839 shares of the stock were exchanged, compared to its average volume of 5,879,209. The firm has a 50 day simple moving average of $170.32 and a 200 day simple moving average of $177.93. The firm has a market cap of $123.59 billion, a price-to-earnings ratio of 19.88, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 1 year low of $145.37 and a 1 year high of $255.89. 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 (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS 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 expect that Applied Materials, Inc. will post 9.38 EPS for the current year.

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

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This is an increase from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's dividend payout ratio (DPR) 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.