Boston Family Office LLC Lowers Position in Applied Materials, Inc. (NASDAQ:AMAT)

Boston Family Office LLC decreased its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 2.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 4,496 shares of the manufacturing equipment provider’s stock after selling 100 shares during the period. Boston Family Office LLC’s holdings in Applied Materials were worth $731,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AMAT. Field & Main Bank lifted its holdings in Applied Materials by 1.8% in the fourth 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 last quarter. Bank of New Hampshire lifted its stake in shares of Applied Materials by 0.8% in the 4th 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 holdings in shares of Applied Materials by 0.8% during the 4th quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock worth $1,202,000 after purchasing an additional 60 shares during the period. Cyndeo Wealth Partners LLC increased its position in shares of 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. Finally, Mezzasalma Advisors LLC raised its holdings in Applied Materials by 3.0% in the 4th quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock valued at $335,000 after buying an additional 60 shares during the period. Institutional investors own 80.56% of the company’s stock.

Insiders Place Their Bets

In other 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 approximately $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Susquehanna lifted their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, January 22nd. Wells Fargo & Company cut their target price on Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Citigroup upped their price target on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group dropped 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. Finally, Morgan Stanley reissued an “underweight” rating and set a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.67.

Applied Materials Price Performance

Shares of AMAT opened at $145.66 on Wednesday. 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, Inc. has a 1-year low of $141.16 and a 1-year high of $255.89. The stock has a market cap of $118.34 billion, a PE ratio of 19.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The firm has a fifty day moving average price of $165.45 and a 200 day moving average price of $176.27.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has authorized a stock repurchase 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 purchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be given a $0.46 dividend. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.26%. Applied Materials’s dividend payout ratio is 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.