American International Group Inc. boosted its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 496,130 shares of the manufacturing equipment provider’s stock after purchasing an additional 7,496 shares during the period. American International Group Inc.’s holdings in Applied Materials were worth $25,362,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Mosaic Family Wealth LLC lifted its position in shares of Applied Materials by 56.1% in the 3rd quarter. Mosaic Family Wealth LLC now owns 2,737 shares of the manufacturing equipment provider’s stock worth $142,000 after buying an additional 984 shares during the last quarter. Gabelli Funds LLC grew its stake in shares of Applied Materials by 1.2% in the 4th quarter. Gabelli Funds LLC now owns 87,000 shares of the manufacturing equipment provider’s stock worth $4,447,000 after purchasing an additional 1,000 shares during the last quarter. Telemus Capital LLC grew its stake in shares of Applied Materials by 9.2% in the 3rd quarter. Telemus Capital LLC now owns 12,162 shares of the manufacturing equipment provider’s stock worth $634,000 after purchasing an additional 1,020 shares during the last quarter. CAPROCK Group Inc. increased its position in shares of Applied Materials by 13.9% in the third quarter. CAPROCK Group Inc. now owns 8,595 shares of the manufacturing equipment provider’s stock worth $448,000 after acquiring an additional 1,046 shares in the last quarter. Finally, Bedrijfstakpensioenfonds Voor DE Media PNO increased its position in shares of Applied Materials by 1.8% in the third quarter. Bedrijfstakpensioenfonds Voor DE Media PNO now owns 59,482 shares of the manufacturing equipment provider’s stock worth $3,098,000 after acquiring an additional 1,062 shares in the last quarter. 79.30% of the stock is owned by institutional investors and hedge funds.
In other Applied Materials news, VP Ali Salehpour sold 125,125 shares of the company’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $51.47, for a total value of $6,440,183.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas J. Iannotti sold 15,000 shares of the stock in a transaction dated Monday, March 12th. The shares were sold at an average price of $61.47, for a total value of $922,050.00. Following the transaction, the director now owns 76,967 shares in the company, valued at $4,731,161.49. The disclosure for this sale can be found here. Insiders have sold a total of 322,716 shares of company stock worth $16,850,796 in the last ninety days. Insiders own 0.35% of the company’s stock.
Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Wednesday, February 14th. The manufacturing equipment provider reported $1.06 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.08. Applied Materials had a return on equity of 45.17% and a net margin of 18.53%. The business had revenue of $4.20 billion during the quarter, compared to the consensus estimate of $4.10 billion. During the same quarter in the prior year, the company posted $0.67 earnings per share. equities research analysts anticipate that Applied Materials, Inc. will post 4.39 EPS for the current year.
Applied Materials announced that its board has authorized a stock repurchase program on Wednesday, February 14th that allows the company to repurchase $6.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 14th. Stockholders of record on Thursday, May 24th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, May 23rd. This is a boost from Applied Materials’s previous quarterly dividend of $0.10. Applied Materials’s dividend payout ratio is currently 15.09%.
AMAT has been the subject of a number of analyst reports. Nomura reiterated a “buy” rating and issued a $65.00 target price (up from $55.00) on shares of Applied Materials in a research note on Tuesday, November 21st. Citigroup boosted their target price on shares of Applied Materials from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, November 20th. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $60.07 price target on the stock in a report on Monday, November 20th. Deutsche Bank boosted their price target on shares of Applied Materials from $58.00 to $65.00 and gave the company a “buy” rating in a report on Friday, November 17th. Finally, Bank of America boosted their target price on shares of Applied Materials from $65.00 to $76.00 and gave the company a “buy” rating in a research note on Wednesday, November 15th. Twenty-six investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $64.10.
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Applied Materials Profile
Applied Materials, Inc provides manufacturing equipment, services and software to the global semiconductor, display and related industries. The Company’s segments are Semiconductor Systems, which includes semiconductor capital equipment for etch, rapid thermal processing, deposition, chemical mechanical planarization, metrology and inspection, wafer packaging, and ion implantation; Applied Global Services, which provides integrated solutions to optimize equipment and fab performance and productivity; Display and Adjacent Markets, which includes products for manufacturing liquid crystal displays, organic light-emitting diodes, upgrades and roll-to-roll Web coating systems and other display technologies for televisions, personal computers, smart phones and other consumer-oriented devices, and Corporate and Other segment, which includes revenues from products, as well as costs of products sold for fabricating solar photovoltaic cells and modules, and certain operating expenses.
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