Zions Bancorporation N.A. Has $325,000 Position in Applied Materials, Inc. (NASDAQ:AMAT)

Zions Bancorporation N.A. grew its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,996 shares of the manufacturing equipment provider’s stock after purchasing an additional 79 shares during the period. Zions Bancorporation N.A.’s holdings in Applied Materials were worth $325,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Field & Main Bank increased its stake in Applied Materials by 1.8% in the fourth 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 increased its position in shares of Applied Materials by 0.8% in the 4th quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock valued at $1,138,000 after buying an additional 56 shares in the last quarter. Grove Bank & Trust raised its stake in Applied Materials by 0.8% during the 4th quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock worth $1,202,000 after buying an additional 60 shares during the period. Cyndeo Wealth Partners LLC lifted its holdings in 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 worth $2,375,000 after acquiring an additional 60 shares in the last quarter. Finally, Mezzasalma Advisors LLC grew its stake in Applied Materials by 3.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock valued at $335,000 after acquiring an additional 60 shares during the period. 80.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Susquehanna lifted their price objective on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Morgan Stanley reaffirmed an “underweight” rating and issued a $164.00 price target (down previously from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Needham & Company LLC cut their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, Barclays lowered their target price on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Applied Materials Trading Down 1.9 %

Shares of NASDAQ:AMAT opened at $150.68 on Thursday. The company has a 50-day simple moving average of $169.05 and a 200 day simple moving average of $177.34. The company has a market capitalization of $122.42 billion, a P/E ratio of 19.70, a price-to-earnings-growth 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 $145.37 and a 52-week high of $255.89.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping 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%. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current 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 given a $0.46 dividend. The ex-dividend date is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 1.22%. Applied Materials’s dividend payout ratio is presently 24.05%.

Applied Materials declared that its Board of Directors has authorized a share buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the firm’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. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by corporate insiders.

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.