Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by 18.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,230,464 shares of the manufacturing equipment provider's stock after acquiring an additional 1,602,645 shares during the period. Northern Trust Corp owned about 1.26% of Applied Materials worth $1,663,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Norges Bank bought a new stake in Applied Materials during the 4th quarter valued at $1,588,422,000. Kovitz Investment Group Partners LLC lifted its stake in shares of Applied Materials by 301.6% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,959,997 shares of the manufacturing equipment provider's stock worth $318,754,000 after purchasing an additional 1,471,953 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Applied Materials during the fourth quarter valued at about $182,962,000. Bessemer Group Inc. grew its stake in Applied Materials by 1,069.9% in the fourth quarter. Bessemer Group Inc. now owns 1,079,977 shares of the manufacturing equipment provider's stock valued at $175,637,000 after purchasing an additional 987,660 shares during the last quarter. Finally, Alecta Tjanstepension Omsesidigt bought a new position in Applied Materials in the fourth quarter worth about $157,426,000. Institutional investors own 80.56% of the company's stock.

Insider Activity

In related news, CEO Gary E. Dickerson acquired 50,000 shares of Applied Materials stock in a transaction on Thursday, April 3rd. The stock was bought 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 owns 1,716,058 shares of the company's stock, valued at approximately $235,614,763.40. The trade was a 3.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Adam Sanders sold 450 shares of the stock in a transaction on 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 in the company, valued at approximately $880,131.91. The trade was a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.24% of the company's stock.

Applied Materials Stock Performance

Shares of AMAT traded up $6.14 during trading hours on Friday, hitting $155.10. The stock had a trading volume of 6,082,020 shares, compared to its average volume of 6,711,132. The firm has a 50-day moving average price of $147.73 and a 200 day moving average price of $167.25. Applied Materials, Inc. has a fifty-two week low of $123.74 and a fifty-two week high of $255.89. The firm has a market capitalization of $126.01 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 1.81 and a beta of 1.61. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67.

Applied Materials (NASDAQ:AMAT - Get Free Report) last posted its earnings results 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%. As a group, research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials declared that its Board of Directors has authorized a share repurchase plan on Monday, March 10th that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a $0.46 dividend. This is a positive change from Applied Materials's previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials's dividend payout ratio (DPR) is presently 24.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. KeyCorp raised shares of Applied Materials from a "sector weight" rating to an "overweight" rating and set a $225.00 price objective on the stock in a research report on Friday, January 17th. Mizuho cut their price target 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. Stifel Nicolaus lowered their price objective on Applied Materials from $235.00 to $195.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Needham & Company LLC reduced their target price on Applied Materials from $200.00 to $195.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Finally, Bank of America lowered their price target on Applied Materials from $205.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $208.86.

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.