CIBC Private Wealth Group LLC Has $4.50 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

CIBC Private Wealth Group LLC increased its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,448 shares of the manufacturing equipment provider’s stock after purchasing an additional 278 shares during the period. CIBC Private Wealth Group LLC’s holdings in Applied Materials were worth $4,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in AMAT. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials during the fourth quarter worth about $28,000. Crews Bank & Trust bought a new stake in Applied Materials in the 4th quarter valued at approximately $28,000. YANKCOM Partnership acquired a new position in Applied Materials during the 4th quarter worth approximately $32,000. Dunhill Financial LLC grew its stake in shares of Applied Materials by 61.4% during the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares in the last quarter. Finally, City Holding Co. acquired a new stake in shares of Applied Materials in the fourth quarter valued at approximately $39,000. Institutional investors own 80.56% of the company’s stock.

Analysts Set New Price Targets

AMAT has been the subject of several recent research reports. Susquehanna increased 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. Wells Fargo & Company reduced their price objective on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. The Goldman Sachs Group decreased their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a report on Friday, January 10th. Morgan Stanley reiterated an “underweight” rating and set a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. Finally, Barclays decreased their price target on Applied Materials from $200.00 to $190.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $214.67.

Applied Materials Price Performance

Shares of NASDAQ AMAT opened at $145.66 on Wednesday. The business’s 50 day moving average is $165.45 and its 200-day moving average is $176.27. The firm has a market cap of $118.34 billion, a P/E ratio of 19.04, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 1-year low of $141.16 and a 1-year high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. Equities research analysts predict that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.26%. Applied Materials’s payout ratio is 24.05%.

Applied Materials declared that its board has approved a share buyback program 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 reacquire up to 8.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The shares were 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 approximately $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 accessible through this link. Insiders own 0.24% of the company’s stock.

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.