Nuance Investments LLC Increases Position in Applied Materials, Inc. (NASDAQ:AMAT)

Key Points

• Nuance Investments LLC increased its stake in Applied Materials, Inc. by 135.9% during the first quarter, now owning 101,811 shares valued at approximately $14.8 million.
• Applied Materials has scheduled a quarterly dividend of $0.46 per share, with an annualized yield of 1.0%, to be paid on September 11th.
• The company's latest earnings report showed a profit of $2.39 per share, exceeding analyst expectations and indicating a year-over-year revenue increase of 6.8%.

Nuance Investments LLC lifted its holdings in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 135.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 101,811 shares of the manufacturing equipment provider's stock after purchasing an additional 58,657 shares during the quarter. Applied Materials accounts for about 1.0% of Nuance Investments LLC's investment portfolio, making the stock its 25th biggest holding. Nuance Investments LLC's holdings in Applied Materials were worth $14,775,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Belpointe Asset Management LLC boosted its holdings in Applied Materials by 1.7% in the fourth quarter. Belpointe Asset Management LLC now owns 3,734 shares of the manufacturing equipment provider's stock valued at $607,000 after purchasing an additional 62 shares during the last quarter. Old Port Advisors lifted its holdings in shares of Applied Materials by 2.5% in the 1st quarter. Old Port Advisors now owns 2,730 shares of the manufacturing equipment provider's stock valued at $396,000 after buying an additional 66 shares during the period. Silver Oak Securities Incorporated boosted its stake in shares of Applied Materials by 4.7% in the first quarter. Silver Oak Securities Incorporated now owns 1,506 shares of the manufacturing equipment provider's stock worth $218,000 after buying an additional 68 shares during the last quarter. Cromwell Holdings LLC grew its holdings in Applied Materials by 2.8% during the first quarter. Cromwell Holdings LLC now owns 2,540 shares of the manufacturing equipment provider's stock worth $369,000 after acquiring an additional 69 shares during the period. Finally, TCTC Holdings LLC raised its position in Applied Materials by 7.2% during the first quarter. TCTC Holdings LLC now owns 1,047 shares of the manufacturing equipment provider's stock valued at $152,000 after acquiring an additional 70 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on AMAT shares. The Goldman Sachs Group assumed coverage on shares of Applied Materials in a research report on Thursday, July 10th. They set a "buy" rating and a $225.00 price target on the stock. Stifel Nicolaus set a $195.00 target price on shares of Applied Materials in a research report on Wednesday. Needham & Company LLC reaffirmed a "buy" rating and issued a $195.00 price target on shares of Applied Materials in a research note on Friday, May 16th. Barclays lifted their price objective on Applied Materials from $160.00 to $170.00 and gave the stock an "equal weight" rating in a report on Monday, July 28th. Finally, UBS Group restated a "neutral" rating and issued a $185.00 target price (up previously from $175.00) on shares of Applied Materials in a research report on Monday, August 4th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, Applied Materials currently has an average rating of "Moderate Buy" and an average price target of $204.09.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 562 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $178.60, for a total transaction of $100,373.20. Following the completion of the transaction, the chief accounting officer directly owned 5,300 shares in the company, valued at $946,580. This trade represents a 9.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.24% of the company's stock.

Applied Materials Trading Down 0.9%

Shares of NASDAQ:AMAT traded down $1.79 during midday trading on Thursday, reaching $188.24. 9,367,096 shares of the company's stock were exchanged, compared to its average volume of 7,225,729. The stock has a market cap of $151.06 billion, a price-to-earnings ratio of 22.90, a P/E/G ratio of 2.10 and a beta of 1.70. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $215.70. The firm's 50 day simple moving average is $183.80 and its two-hundred day simple moving average is $166.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.46 and a quick ratio of 1.76.

Applied Materials (NASDAQ:AMAT - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The manufacturing equipment provider reported $2.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.34 by $0.14. Applied Materials had a net margin of 24.06% and a return on equity of 40.15%. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 11th. Investors of record on Thursday, August 21st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, August 21st. This represents a $1.84 annualized dividend and a yield of 1.0%. Applied Materials's dividend payout ratio is presently 22.38%.

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.