Applied Materials, Inc. (NASDAQ:AMAT) Stake Raised by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. boosted its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 53.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 743,774 shares of the manufacturing equipment provider’s stock after acquiring an additional 259,271 shares during the quarter. Applied Materials accounts for about 0.8% of Brown Brothers Harriman & Co.’s investment portfolio, making the stock its 29th largest holding. Brown Brothers Harriman & Co. owned 0.09% of Applied Materials worth $120,960,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. FPC Investment Advisory Inc. purchased a new position in Applied Materials during the fourth quarter valued at approximately $28,000. Crews Bank & Trust acquired a new stake in shares of Applied Materials during the 4th quarter valued at $28,000. YANKCOM Partnership purchased a new position in shares of Applied Materials during the 4th quarter valued at $32,000. Dunhill Financial LLC increased its stake in shares of Applied Materials by 61.4% in the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. Finally, City Holding Co. purchased a new stake in shares of Applied Materials during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Mizuho lowered their target price on Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, January 10th. Morgan Stanley restated an “underweight” rating and issued a $164.00 price objective (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Stifel Nicolaus reduced their target price on shares of Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Susquehanna increased their price target on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 22nd. Finally, Sanford C. Bernstein reduced their price objective on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $214.67.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $145.06 on Friday. The firm’s 50-day moving average is $167.33 and its 200-day moving average is $176.91. The company has a market cap of $117.85 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.81 and a beta of 1.62. 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, Inc. has a 52-week low of $144.12 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. 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 authorized a share repurchase plan 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 purchase up to 8.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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. Investors of record on Thursday, May 22nd will be given a $0.46 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.27%. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

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.