Applied Materials, Inc. (NASDAQ:AMAT) Shares Sold by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. cut its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 30.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,048,864 shares of the manufacturing equipment provider’s stock after selling 469,791 shares during the quarter. Applied Materials comprises 0.5% of Nomura Asset Management Co. Ltd.’s investment portfolio, making the stock its 29th biggest holding. Nomura Asset Management Co. Ltd.’s holdings in Applied Materials were worth $170,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Field & Main Bank increased its holdings in shares of Applied Materials by 1.8% in the 4th quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after purchasing an additional 55 shares in the last quarter. Bank of New Hampshire grew its position in Applied Materials by 0.8% during the fourth quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock worth $1,138,000 after buying an additional 56 shares during the period. Grove Bank & Trust increased its holdings 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 buying an additional 60 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its position in shares of Applied Materials by 0.4% during the 4th 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 period. Finally, Mezzasalma Advisors LLC boosted its stake in shares of 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 acquiring an additional 60 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on AMAT. Sanford C. Bernstein dropped their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Stifel Nicolaus dropped their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Morgan Stanley restated an “underweight” rating and set a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Finally, Susquehanna upped their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Insiders Place Their Bets

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is currently owned by insiders.

Applied Materials Trading Down 2.0 %

Shares of AMAT stock opened at $147.68 on Friday. Applied Materials, Inc. has a 1-year low of $145.37 and a 1-year high of $255.89. The firm’s 50-day simple moving average is $168.27 and its 200-day simple moving average is $177.14. The firm has a market cap of $119.98 billion, a P/E ratio of 19.30, a PEG ratio of 1.81 and a beta of 1.62. 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 (NASDAQ:AMAT) last posted its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share for the quarter, topping 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%. As a group, equities analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date is Thursday, May 22nd. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is 24.05%.

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

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.