PDS Planning Inc Sells 112 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

PDS Planning Inc lessened its position in Applied Materials, Inc. (NASDAQ:AMAT) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,705 shares of the manufacturing equipment provider’s stock after selling 112 shares during the quarter. PDS Planning Inc’s holdings in Applied Materials were worth $603,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Biltmore Family Office LLC boosted its holdings in Applied Materials by 5.3% during the third quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock worth $221,000 after buying an additional 55 shares in the last quarter. Field & Main Bank boosted its holdings in 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 in the last quarter. Bank of New Hampshire boosted its holdings 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 buying an additional 56 shares in the last quarter. Grove Bank & Trust boosted its holdings in Applied Materials by 0.8% during the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock worth $1,202,000 after buying an additional 60 shares in the last quarter. Finally, Cyndeo Wealth Partners LLC boosted 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 in the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Applied Materials stock opened at $153.51 on Wednesday. Applied Materials, Inc. has a 12-month low of $145.37 and a 12-month high of $255.89. The stock has a market cap of $124.72 billion, a P/E ratio of 20.07, a PEG ratio of 1.81 and a beta of 1.62. The company has a 50-day moving average price of $171.61 and a 200 day moving average price of $178.57. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change 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 of Directors has authorized a stock buyback program on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have weighed in on AMAT. Needham & Company LLC reduced their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Sanford C. Bernstein reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, November 29th. Citigroup upped their price objective on shares of Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research report on Tuesday, February 18th. Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Susquehanna upped their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Insiders Place Their Bets

In other Applied Materials 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 transaction, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by insiders.

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.