Cascade Investment Advisors Inc. trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT – Get Rating) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,540 shares of the manufacturing equipment provider’s stock after selling 110 shares during the period. Applied Materials comprises 1.6% of Cascade Investment Advisors Inc.’s holdings, making the stock its 3rd biggest holding. Cascade Investment Advisors Inc.’s holdings in Applied Materials were worth $2,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors increased its stake in Applied Materials by 3.6% during the 3rd quarter. Capital World Investors now owns 26,260,338 shares of the manufacturing equipment provider’s stock valued at $3,380,486,000 after purchasing an additional 908,866 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Applied Materials by 13.1% during the third quarter. Geode Capital Management LLC now owns 16,953,802 shares of the manufacturing equipment provider’s stock valued at $2,177,497,000 after purchasing an additional 1,958,477 shares in the last quarter. Parnassus Investments LLC lifted its holdings in Applied Materials by 5.7% during the third quarter. Parnassus Investments LLC now owns 7,084,784 shares of the manufacturing equipment provider’s stock valued at $912,024,000 after purchasing an additional 381,189 shares in the last quarter. Vulcan Value Partners LLC lifted its holdings in Applied Materials by 97.5% during the third quarter. Vulcan Value Partners LLC now owns 6,067,153 shares of the manufacturing equipment provider’s stock valued at $781,025,000 after purchasing an additional 2,995,539 shares in the last quarter. Finally, Morgan Stanley raised its position in shares of Applied Materials by 1.2% in the third quarter. Morgan Stanley now owns 5,562,480 shares of the manufacturing equipment provider’s stock valued at $716,060,000 after buying an additional 63,697 shares during the last quarter. 77.90% of the stock is owned by institutional investors.
AMAT stock traded up $5.10 during midday trading on Friday, hitting $111.86. The company’s stock had a trading volume of 8,318,416 shares, compared to its average volume of 7,450,329. The stock’s 50-day moving average price is $121.19 and its 200 day moving average price is $137.19. The company has a quick ratio of 1.78, a current ratio of 2.51 and a debt-to-equity ratio of 0.46. Applied Materials, Inc. has a 1 year low of $102.99 and a 1 year high of $167.06. The stock has a market cap of $98.82 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 1.28 and a beta of 1.44.
Applied Materials declared that its board has approved a share buyback plan on Friday, March 11th that permits the company to repurchase $6.00 billion in shares. This repurchase authorization permits the manufacturing equipment provider to buy up to 5.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 16th. Shareholders of record on Thursday, May 26th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, May 25th. This represents a $1.04 annualized dividend and a yield of 0.93%. This is a boost from Applied Materials’s previous quarterly dividend of $0.24. Applied Materials’s dividend payout ratio (DPR) is 13.35%.
Several equities research analysts recently issued reports on AMAT shares. Stifel Nicolaus raised their price objective on shares of Applied Materials from $190.00 to $197.00 in a research report on Thursday, April 7th. Barclays decreased their price target on shares of Applied Materials from $165.00 to $150.00 and set an “equal weight” rating for the company in a research note on Monday, April 25th. Zacks Investment Research upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Wednesday, January 19th. KeyCorp began coverage on shares of Applied Materials in a report on Tuesday, January 25th. They issued a “sector weight” rating on the stock. Finally, Citigroup boosted their price objective on shares of Applied Materials from $178.00 to $180.00 in a research note on Thursday, February 17th. Eight analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $169.54.
About Applied Materials (Get Rating)
Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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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