Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,094 shares of the manufacturing equipment provider’s stock after selling 114 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Applied Materials were worth $666,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Field & Main Bank lifted its position in shares of 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 acquiring an additional 55 shares during the period. Bank of New Hampshire boosted its position in 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 purchasing an additional 56 shares in the last quarter. Grove Bank & Trust grew its holdings in 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 purchasing an additional 60 shares during the last quarter. Cyndeo Wealth Partners LLC increased its position 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 valued at $2,375,000 after buying an additional 60 shares in the last quarter. Finally, Mezzasalma Advisors LLC raised its stake in shares of Applied Materials by 3.0% during the 4th quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock worth $335,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Trading Down 1.8 %

Applied Materials stock opened at $145.06 on Friday. Applied Materials, Inc. has a 52 week low of $144.12 and a 52 week 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. The firm has a market capitalization of $117.85 billion, a price-to-earnings ratio of 18.96, a P/E/G ratio of 1.81 and a beta of 1.62. The company has a 50 day moving average price of $167.33 and a 200 day moving average price of $176.90.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

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 given a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.27%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Applied Materials announced that its Board of Directors has authorized a stock buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently commented on AMAT shares. The Goldman Sachs Group lowered their price objective on shares of 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 dropped their price objective on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Morgan Stanley restated an “underweight” rating and set a $164.00 price objective (down from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Needham & Company LLC cut their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $214.67.

Insiders Place Their Bets

In related news, CAO Adam Sanders sold 271 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.24% of the company’s stock.

About Applied Materials

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.