Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Norinchukin Bank The

Norinchukin Bank The increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 8.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,272 shares of the manufacturing equipment provider’s stock after buying an additional 3,717 shares during the quarter. Norinchukin Bank The’s holdings in Applied Materials were worth $7,363,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Applied Materials during the 4th quarter valued at about $1,588,422,000. Raymond James Financial Inc. purchased a new stake in shares of Applied Materials in the fourth quarter worth about $182,962,000. Bessemer Group Inc. grew its holdings in Applied Materials by 1,069.9% during the fourth quarter. Bessemer Group Inc. now owns 1,079,977 shares of the manufacturing equipment provider’s stock worth $175,637,000 after acquiring an additional 987,660 shares during the period. Alecta Tjanstepension Omsesidigt acquired a new position in Applied Materials in the fourth quarter valued at approximately $157,426,000. Finally, Flossbach Von Storch SE boosted its position in Applied Materials by 126.6% in the 4th quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock worth $260,221,000 after purchasing an additional 893,995 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Applied Materials Trading Down 0.5 %

Shares of AMAT stock opened at $137.46 on Friday. 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, Inc. has a twelve month low of $123.74 and a twelve month high of $255.89. The company’s 50-day moving average price is $152.67 and its 200-day moving average price is $170.78. The stock has a market cap of $111.68 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, beating 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%. As a group, equities analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials declared that its board has approved a share repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The firm also recently announced 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 yield of 1.34%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is currently 24.05%.

Insider Activity

In related news, CEO Gary E. Dickerson purchased 50,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was acquired at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. The trade was a 3.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 disclosure for this sale can be found here. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on AMAT. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Susquehanna lifted their price objective on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Stifel Nicolaus lowered their target price on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday. Wells Fargo & Company cut their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Finally, Jefferies Financial Group upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research report on Friday, March 28th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $210.29.

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.