Aviva PLC Has $86.62 Million Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Aviva PLC reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 532,611 shares of the manufacturing equipment provider’s stock after selling 9,730 shares during the quarter. Aviva PLC owned 0.07% of Applied Materials worth $86,619,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AMAT. Dynamic Technology Lab Private Ltd bought a new stake in Applied Materials during the fourth quarter worth about $1,409,000. Cullen Capital Management LLC increased its holdings in Applied Materials by 4.9% in the 4th quarter. Cullen Capital Management LLC now owns 19,265 shares of the manufacturing equipment provider’s stock valued at $3,133,000 after buying an additional 893 shares during the period. Oarsman Capital Inc. lifted its holdings in shares of Applied Materials by 11.7% during the 4th quarter. Oarsman Capital Inc. now owns 1,613 shares of the manufacturing equipment provider’s stock worth $262,000 after acquiring an additional 169 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in shares of Applied Materials during the 4th quarter worth approximately $44,060,000. Finally, Bornite Capital Management LP increased its stake in Applied Materials by 100.0% in the fourth quarter. Bornite Capital Management LP now owns 100,000 shares of the manufacturing equipment provider’s stock valued at $16,263,000 after acquiring an additional 50,000 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Stock Performance

NASDAQ:AMAT opened at $126.95 on Friday. 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 fifty-two week low of $123.94 and a fifty-two week high of $255.89. The company has a 50 day simple moving average of $162.19 and a two-hundred day simple moving average of $175.37. The company has a market capitalization of $103.14 billion, a PE ratio of 16.59, a P/E/G ratio of 1.81 and a beta of 1.61.

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 net margin of 22.95% and a return on equity of 39.50%. 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 stock repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 1.45%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s payout ratio is currently 24.05%.

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on AMAT shares. Jefferies Financial Group upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Friday, March 28th. Wells Fargo & Company dropped their price objective on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. The Goldman Sachs Group decreased 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. Mizuho dropped 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, January 10th. Finally, Susquehanna lifted their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, Applied Materials presently has an average rating of “Moderate Buy” and an average target price of $214.67.

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.