TD Asset Management Inc. Buys 13,667 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

TD Asset Management Inc. grew its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,538,743 shares of the manufacturing equipment provider’s stock after buying an additional 13,667 shares during the quarter. TD Asset Management Inc. owned approximately 0.19% of Applied Materials worth $250,246,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Field & Main Bank grew 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 valued at $516,000 after purchasing an additional 55 shares during the period. Bank of New Hampshire raised its stake in shares of Applied Materials by 0.8% in the fourth quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock valued at $1,138,000 after buying an additional 56 shares during the period. Grove Bank & Trust lifted its position 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 valued at $1,202,000 after buying an additional 60 shares during the last quarter. Cyndeo Wealth Partners LLC grew its stake 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 acquiring an additional 60 shares during the period. Finally, Mezzasalma Advisors LLC increased 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 worth $335,000 after acquiring an additional 60 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Applied Materials stock opened at $154.95 on Tuesday. Applied Materials, Inc. has a fifty-two week low of $145.37 and a fifty-two 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 stock has a market cap of $125.89 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The firm’s fifty day moving average price is $170.00 and its 200-day moving average price is $177.68.

Applied Materials (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. On average, equities research analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its board has authorized a share repurchase plan 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 plans are usually an indication that the company’s board believes its stock is undervalued.

Applied Materials Increases Dividend

The company 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 $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.19%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is currently 24.05%.

Insider Buying and Selling at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the stock in a transaction dated Monday, February 24th. The stock was 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 directly owns 6,479 shares in the company, valued at $1,119,052.88. This represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMAT shares. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Stifel Nicolaus dropped their price target on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. The Goldman Sachs Group cut their price objective on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company lowered their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Finally, Mizuho cut their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $215.38.

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.