Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Choate Investment Advisors

Choate Investment Advisors boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 3.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,337 shares of the manufacturing equipment provider’s stock after acquiring an additional 930 shares during the period. Choate Investment Advisors’ holdings in Applied Materials were worth $4,446,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Applied Materials by 8.6% in the fourth quarter. Nordea Investment Management AB now owns 2,077,107 shares of the manufacturing equipment provider’s stock valued at $340,895,000 after acquiring an additional 164,085 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Applied Materials by 62.6% in the third quarter. The Manufacturers Life Insurance Company now owns 1,698,282 shares of the manufacturing equipment provider’s stock valued at $343,138,000 after acquiring an additional 653,739 shares in the last quarter. Pensionfund Sabic raised its holdings in Applied Materials by 38.9% in the fourth quarter. Pensionfund Sabic now owns 13,200 shares of the manufacturing equipment provider’s stock valued at $2,147,000 after acquiring an additional 3,700 shares in the last quarter. Brookstone Capital Management raised its holdings in shares of Applied Materials by 59.1% during the fourth quarter. Brookstone Capital Management now owns 45,378 shares of the manufacturing equipment provider’s stock worth $7,380,000 after purchasing an additional 16,851 shares during the period. Finally, Advisors Management Group Inc. ADV acquired a new stake in shares of Applied Materials during the fourth quarter worth $339,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were 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 trade represents a 4.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on AMAT shares. Mizuho dropped their target price 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. Wells Fargo & Company dropped their target price on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday. Needham & Company LLC dropped their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Finally, Barclays dropped their target price on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Stock Performance

Shares of AMAT opened at $155.66 on Friday. The firm has a 50-day moving average price of $172.54 and a 200 day moving average price of $179.24. The firm has a market capitalization of $126.46 billion, a PE ratio of 20.35, a P/E/G ratio of 1.81 and a beta of 1.62. 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 52-week low of $145.37 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its board has authorized a stock buyback plan on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management 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. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Applied Materials 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.