Broad Run Investment Management LLC trimmed its position in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 217,352 shares of the manufacturing equipment provider's stock after selling 2,101 shares during the quarter. Applied Materials accounts for approximately 4.8% of Broad Run Investment Management LLC's holdings, making the stock its 10th biggest holding. Broad Run Investment Management LLC's holdings in Applied Materials were worth $35,348,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Field & Main Bank boosted its position in 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 in the last quarter. Bank of New Hampshire raised its holdings in 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 worth $1,138,000 after purchasing an additional 56 shares in the last quarter. Grove Bank & Trust lifted its position 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 valued at $1,202,000 after buying an additional 60 shares during the period. Cyndeo Wealth Partners LLC boosted its holdings 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 valued at $2,375,000 after buying an additional 60 shares in the last quarter. Finally, Mezzasalma Advisors LLC grew its position in shares of 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 buying an additional 60 shares during the period. 80.56% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on AMAT shares. Mizuho cut their price objective on shares of Applied Materials from $220.00 to $210.00 and set an "outperform" rating on the stock in a report on Friday, January 10th. The Goldman Sachs Group lowered 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. KeyCorp upgraded Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price target for the company in a report on Friday, January 17th. Needham & Company LLC dropped their price target on shares of Applied Materials from $200.00 to $195.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Finally, Edward Jones upgraded shares of Applied Materials from a "hold" rating to a "buy" rating in a research note on Wednesday, March 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $208.86.
Read Our Latest Stock Analysis on Applied Materials
Insiders Place Their Bets
In related news, CEO Gary E. Dickerson purchased 50,000 shares of Applied Materials stock in a transaction on Thursday, April 3rd. The shares were bought at an average cost of $137.30 per share, for a total transaction of $6,865,000.00. Following the acquisition, the chief executive officer now owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. The trade was a 3.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Adam Sanders sold 450 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the transaction, the chief accounting officer now directly owns 6,077 shares of the company's stock, valued at $880,131.91. This trade represents a 6.89 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.
Applied Materials Stock Performance
NASDAQ:AMAT traded up $6.98 during mid-day trading on Friday, hitting $155.94. 3,166,040 shares of the company traded hands, compared to its average volume of 6,700,077. The stock's fifty day moving average price is $147.73 and its 200-day moving average price is $167.25. The firm has a market cap of $126.69 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. Applied Materials, Inc. has a one year low of $123.74 and a one year high of $255.89.
Applied Materials (NASDAQ:AMAT - Get Free Report) last issued its quarterly 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%. Research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.
Applied Materials Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. This is an increase from Applied Materials's previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials's payout ratio is presently 24.05%.
Applied Materials declared that its Board of Directors has approved a share buyback plan on Monday, March 10th that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the manufacturing equipment provider to buy up to 8.2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.
Applied Materials Profile
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Free Report)
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.
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