Swedbank AB Has $628.33 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Swedbank AB reduced its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 9.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,863,541 shares of the manufacturing equipment provider’s stock after selling 381,025 shares during the quarter. Applied Materials makes up approximately 0.8% of Swedbank AB’s holdings, making the stock its 24th largest holding. Swedbank AB’s holdings in Applied Materials were worth $628,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AMAT. Clean Yield Group bought a new stake in Applied Materials during the 3rd quarter worth about $33,000. First PREMIER Bank lifted its stake in shares of Applied Materials by 326.3% during the third quarter. First PREMIER Bank now owns 162 shares of the manufacturing equipment provider’s stock valued at $33,000 after acquiring an additional 124 shares during the period. MidAtlantic Capital Management Inc. bought a new position in Applied Materials in the third quarter valued at about $37,000. DT Investment Partners LLC increased its position in Applied Materials by 592.9% in the third quarter. DT Investment Partners LLC now owns 194 shares of the manufacturing equipment provider’s stock worth $39,000 after purchasing an additional 166 shares during the period. Finally, City Holding Co. acquired a new position in Applied Materials during the 4th quarter valued at about $39,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Up 1.3 %

NASDAQ:AMAT traded up $2.31 during trading hours on Wednesday, reaching $175.16. 985,225 shares of the stock were exchanged, compared to its average volume of 6,590,156. The stock has a market cap of $142.35 billion, a PE ratio of 20.34, a PEG ratio of 1.99 and a beta of 1.53. Applied Materials, Inc. has a twelve month low of $158.96 and a twelve month high of $255.89. The firm has a 50 day moving average of $174.15 and a 200 day moving average of $187.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.51 and a quick ratio of 1.87.

Applied Materials (NASDAQ:AMAT) last released its earnings results on Thursday, November 14th. The manufacturing equipment provider reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.19 by $0.13. Applied Materials had a net margin of 26.41% and a return on equity of 39.26%. The business had revenue of $7.05 billion during the quarter, compared to analysts’ expectations of $6.96 billion. During the same period last year, the business earned $2.12 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. On average, equities analysts expect that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 13th. Investors of record on Thursday, February 20th will be issued a dividend of $0.40 per share. The ex-dividend date is Thursday, February 20th. This represents a $1.60 annualized dividend and a yield of 0.91%. Applied Materials’s payout ratio is currently 18.58%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. KeyCorp upgraded 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 research report on Friday, January 17th. Susquehanna lifted their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. Deutsche Bank Aktiengesellschaft cut their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating on the stock in a research note on Friday, November 15th. Mizuho dropped their price objective on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, January 10th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.71.

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.