Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Empire Financial Management Company LLC

Empire Financial Management Company LLC lowered its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 35.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,001 shares of the manufacturing equipment provider’s stock after selling 1,101 shares during the period. Empire Financial Management Company LLC’s holdings in Applied Materials were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of AMAT. Field & Main Bank raised 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 purchasing an additional 55 shares during the last quarter. Bank of New Hampshire raised its holdings in shares of 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 worth $1,138,000 after acquiring an additional 56 shares during the last quarter. Grove Bank & Trust lifted its position in shares of 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 acquiring an additional 60 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of 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 valued at $2,375,000 after acquiring an additional 60 shares during the last quarter. Finally, Mezzasalma Advisors LLC increased its position in Applied Materials by 3.0% during the 4th 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. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Citigroup reduced their target price on shares of Applied Materials from $202.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Bank of America lowered their target price on shares of Applied Materials from $205.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group raised Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research note on Friday, March 28th. Mizuho lowered their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Finally, The Goldman Sachs Group reduced their target price on Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Applied Materials currently has a consensus rating of “Moderate Buy” and an average target price of $208.86.

Insider Buying and Selling at Applied Materials

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

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $150.17 on Friday. The company has a market capitalization of $122.00 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.81 and a beta of 1.61. 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. The business has a 50-day moving average of $149.95 and a 200-day moving average of $169.16.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The company 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. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.23%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is currently 24.05%.

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

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.