Thrivent Financial for Lutherans Buys 27,459 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Thrivent Financial for Lutherans boosted its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 2.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,023,598 shares of the manufacturing equipment provider’s stock after purchasing an additional 27,459 shares during the period. Thrivent Financial for Lutherans’ holdings in Applied Materials were worth $166,730,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Crews Bank & Trust purchased a new stake in Applied Materials during the fourth quarter valued at $28,000. FPC Investment Advisory Inc. bought a new stake in shares of Applied Materials during the 4th quarter valued at about $28,000. YANKCOM Partnership purchased a new stake in shares of Applied Materials during the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. bought a new position in shares of Applied Materials in the 3rd quarter worth approximately $37,000. Finally, City Holding Co. purchased a new position in shares of Applied Materials in the fourth quarter worth approximately $39,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Mizuho decreased their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. The Goldman Sachs Group lowered 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. Morgan Stanley restated an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Sanford C. Bernstein reduced their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total value 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. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.

Applied Materials Stock Down 0.1 %

NASDAQ AMAT opened at $155.46 on Tuesday. The stock has a 50 day moving average price of $172.10 and a 200-day moving average price of $178.88. Applied Materials, Inc. has a one year low of $145.37 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The company has a market capitalization of $126.30 billion, a P/E ratio of 20.32, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS 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 predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is presently 24.05%.

Applied Materials declared that its board has approved a share repurchase program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to purchase up to 8.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are 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.