Russell Investments Group Ltd. Trims Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Russell Investments Group Ltd. trimmed its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 6.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 855,139 shares of the manufacturing equipment provider’s stock after selling 62,311 shares during the period. Russell Investments Group Ltd.’s holdings in Applied Materials were worth $139,173,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Field & Main Bank boosted its position in shares of Applied Materials by 1.8% during the 4th quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock worth $516,000 after acquiring an additional 55 shares in the last quarter. Bank of New Hampshire boosted 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 valued at $1,138,000 after purchasing an additional 56 shares in the last quarter. Grove Bank & Trust increased its stake in Applied Materials by 0.8% in the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock valued at $1,202,000 after purchasing an additional 60 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in Applied Materials by 0.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock worth $2,375,000 after purchasing an additional 60 shares in the last quarter. Finally, Mezzasalma Advisors LLC raised its holdings in Applied Materials by 3.0% during the fourth quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock worth $335,000 after purchasing an additional 60 shares in the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CAO Adam Sanders sold 450 shares of the company’s 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 owns 6,077 shares in the company, valued at $880,131.91. This represents a 6.89 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $126.95 on Friday. Applied Materials, Inc. has a 52-week low of $123.94 and a 52-week high of $255.89. The company has a market cap of $103.14 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.81 and a beta of 1.61. The firm’s 50-day moving average is $162.19 and its 200-day moving average is $175.37. 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) last issued its 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%. Equities research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its board has approved a share repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is 24.05%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AMAT shares. Susquehanna raised their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 22nd. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Mizuho decreased their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Barclays lowered their price objective on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, KeyCorp raised shares of 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $214.67.

Applied Materials Company 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.