Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 4.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,012 shares of the manufacturing equipment provider’s stock after purchasing an additional 364 shares during the period. TrinityPoint Wealth LLC’s holdings in Applied Materials were worth $1,303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in AMAT. Crews Bank & Trust purchased a new stake in shares of Applied Materials during the 4th quarter worth about $28,000. FPC Investment Advisory Inc. purchased a new stake in shares of Applied Materials during the 4th quarter worth about $28,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials during the 4th quarter worth about $32,000. City Holding Co. purchased a new stake in shares of Applied Materials during the 4th quarter worth about $39,000. Finally, Atala Financial Inc purchased a new stake in shares of Applied Materials during the 4th quarter worth about $45,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Down 5.3%

Shares of NASDAQ AMAT opened at $165.57 on Friday. The company has a 50 day simple moving average of $149.19 and a 200-day simple moving average of $165.35. The company has a market capitalization of $134.52 billion, a P/E ratio of 21.64, a P/E/G ratio of 1.81 and a beta of 1.71. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. Applied Materials, Inc. has a 1 year low of $123.74 and a 1 year high of $255.89.

Applied Materials (NASDAQ:AMAT) last announced its quarterly earnings results on Thursday, May 15th. The manufacturing equipment provider reported $2.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.08. The business had revenue of $7.10 billion during the quarter, compared to the consensus estimate of $7.12 billion. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. On average, equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials announced that its board has authorized a stock buyback plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to buy 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 shares are undervalued.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Thursday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is 22.38%.

Insider Activity at Applied Materials

In related news, CAO Adam Sanders sold 450 shares of Applied Materials stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total value of $65,173.50. Following the completion of the sale, the chief accounting officer now owns 6,077 shares in the company, valued at approximately $880,131.91. This trade represents a 6.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gary E. Dickerson bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, April 3rd. The stock was bought at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the acquisition, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. The trade was a 3.00% increase in their position. The disclosure for this purchase can be found here. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AMAT has been the topic of several recent analyst reports. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. JPMorgan Chase & Co. decreased their price target on shares of Applied Materials from $240.00 to $210.00 and set an “overweight” rating on the stock in a research note on Friday. Wells Fargo & Company decreased their price target on shares of Applied Materials from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Friday. TD Cowen decreased their price target on shares of Applied Materials from $225.00 to $220.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $200.00 price target (down from $225.00) on shares of Applied Materials in a research note on Friday. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $199.48.

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.