First Citizens Bank & Trust Co. Increases Position in Applied Materials, Inc. (AMAT)

First Citizens Bank & Trust Co. lifted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 40.5% during the 4th quarter, Holdings Channel reports. The firm owned 31,552 shares of the manufacturing equipment provider’s stock after acquiring an additional 9,098 shares during the period. First Citizens Bank & Trust Co.’s holdings in Applied Materials were worth $1,613,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. WIM Asset Management HK Ltd bought a new stake in shares of Applied Materials during the 4th quarter valued at approximately $7,515,000. DnB Asset Management AS grew its holdings in shares of Applied Materials by 15.9% during the 4th quarter. DnB Asset Management AS now owns 205,035 shares of the manufacturing equipment provider’s stock valued at $10,481,000 after purchasing an additional 28,200 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd bought a new stake in shares of Applied Materials during the 4th quarter valued at approximately $516,000. Prudential Financial Inc. grew its holdings in shares of Applied Materials by 1.1% during the 3rd quarter. Prudential Financial Inc. now owns 6,119,749 shares of the manufacturing equipment provider’s stock valued at $318,778,000 after purchasing an additional 64,186 shares during the last quarter. Finally, Atlantic Trust Group LLC grew its holdings in Applied Materials by 1,892.7% during the 3rd quarter. Atlantic Trust Group LLC now owns 862,580 shares of the manufacturing equipment provider’s stock worth $44,932,000 after acquiring an additional 819,292 shares during the last quarter. 79.76% of the stock is currently owned by institutional investors.

Applied Materials, Inc. (NASDAQ:AMAT) opened at $53.20 on Friday. The stock has a market cap of $56,200.00, a P/E ratio of 16.78, a PEG ratio of 1.07 and a beta of 1.81. Applied Materials, Inc. has a 1 year low of $32.60 and a 1 year high of $60.89. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.14 and a quick ratio of 2.43.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, November 16th. The manufacturing equipment provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.02. The firm had revenue of $3.97 billion for the quarter, compared to the consensus estimate of $3.93 billion. Applied Materials had a net margin of 23.62% and a return on equity of 41.51%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.66 EPS. equities research analysts forecast that Applied Materials, Inc. will post 4.04 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 14th. Stockholders of record on Wednesday, February 21st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, February 20th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.75%. Applied Materials’s dividend payout ratio (DPR) is currently 12.62%.

In related news, Director Stephen R. Forrest sold 5,000 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Omkaram Nalamasu sold 53,466 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $53.00, for a total transaction of $2,833,698.00. The disclosure for this sale can be found here. Insiders sold a total of 312,716 shares of company stock worth $16,218,746 in the last 90 days. Corporate insiders own 0.31% of the company’s stock.

A number of equities research analysts have weighed in on the stock. B. Riley reissued a “buy” rating and set a $61.00 target price on shares of Applied Materials in a report on Wednesday, September 20th. BidaskClub lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a report on Thursday. Vetr raised shares of Applied Materials from a “hold” rating to a “buy” rating and set a $49.11 target price on the stock in a report on Friday, September 22nd. Berenberg Bank reissued a “buy” rating and set a $52.00 target price on shares of Applied Materials in a report on Thursday, September 28th. Finally, Citigroup boosted their target price on shares of Applied Materials from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, November 20th. Two analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $61.22.

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Applied Materials Company Profile

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Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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