TCTC Holdings LLC Buys 70 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

TCTC Holdings LLC raised its holdings in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 7.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 977 shares of the manufacturing equipment provider’s stock after acquiring an additional 70 shares during the period. TCTC Holdings LLC’s holdings in Applied Materials were worth $159,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of AMAT. Biltmore Family Office LLC grew its stake in shares of Applied Materials by 5.3% during the 3rd quarter. Biltmore Family Office LLC now owns 1,093 shares of the manufacturing equipment provider’s stock valued at $221,000 after acquiring an additional 55 shares during the period. Field & Main Bank grew its stake in shares of Applied Materials by 1.8% during the 4th quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock valued at $516,000 after acquiring an additional 55 shares during the period. Bank of New Hampshire grew its stake in shares of Applied Materials by 0.8% during 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 acquiring an additional 56 shares during the period. Grove Bank & Trust grew its stake in shares of Applied Materials by 0.8% during the 4th quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock valued at $1,202,000 after acquiring an additional 60 shares during the period. Finally, Cyndeo Wealth Partners LLC grew its stake in shares of Applied Materials by 0.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock valued at $2,375,000 after acquiring an additional 60 shares during the period. 80.56% of the stock is currently owned by institutional investors.

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 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. 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 (NASDAQ:AMAT) last released its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. As a group, equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

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

Applied Materials Increases Dividend

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

Insider Activity at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the 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 sale, the chief accounting officer now 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Citigroup boosted their price objective on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research note on Tuesday, February 18th. The Goldman Sachs Group cut their price objective on Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Sanford C. Bernstein dropped their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research note on Friday, November 29th. Barclays dropped 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. Finally, Wells Fargo & Company dropped their price target on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and a consensus price target of $215.38.

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.