Midwest Professional Planners LTD. Decreases Stake in Applied Materials, Inc. (NASDAQ:AMAT)

Midwest Professional Planners LTD. reduced its position in Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,740 shares of the manufacturing equipment provider’s stock after selling 218 shares during the period. Applied Materials accounts for about 1.9% of Midwest Professional Planners LTD.’s investment portfolio, making the stock its 12th biggest position. Midwest Professional Planners LTD.’s holdings in Applied Materials were worth $3,893,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Hanson & Doremus Investment Management increased its stake in Applied Materials by 1,538.5% during the fourth quarter. Hanson & Doremus Investment Management now owns 213 shares of the manufacturing equipment provider’s stock worth $34,000 after acquiring an additional 200 shares during the last quarter. Dixon Hughes Goodman Wealth Advisors LLC bought a new stake in Applied Materials during the fourth quarter worth approximately $35,000. Lowe Wealth Advisors LLC bought a new stake in Applied Materials during the fourth quarter worth approximately $35,000. D Orazio & Associates Inc. bought a new position in shares of Applied Materials during the third quarter valued at approximately $30,000. Finally, MV Capital Management Inc. grew its stake in shares of Applied Materials by 76.1% during the third quarter. MV Capital Management Inc. now owns 236 shares of the manufacturing equipment provider’s stock valued at $30,000 after buying an additional 102 shares during the last quarter. Institutional investors own 77.90% of the company’s stock.

Shares of NASDAQ:AMAT traded up $5.10 during trading on Friday, reaching $111.86. 8,318,416 shares of the company’s stock traded hands, compared to its average volume of 7,450,329. Applied Materials, Inc. has a fifty-two week low of $102.99 and a fifty-two week high of $167.06. The company has a quick ratio of 1.78, a current ratio of 2.51 and a debt-to-equity ratio of 0.46. The firm has a market cap of $98.82 billion, a PE ratio of 15.56, a P/E/G ratio of 1.28 and a beta of 1.44. The company has a 50-day simple moving average of $121.19 and a 200-day simple moving average of $137.19.

Applied Materials (NASDAQ:AMATGet Rating) last issued its quarterly earnings results on Wednesday, February 16th. The manufacturing equipment provider reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.04. The firm had revenue of $6.27 billion for the quarter, compared to analyst estimates of $6.16 billion. Applied Materials had a net margin of 27.10% and a return on equity of 55.62%. Applied Materials’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period last year, the company posted $1.39 EPS. On average, equities research analysts forecast that Applied Materials, Inc. will post 8.02 EPS for the current year.

Applied Materials declared that its board has authorized a share buyback program on Friday, March 11th that allows the company to repurchase $6.00 billion in outstanding shares. This repurchase authorization allows the manufacturing equipment provider to purchase up to 5.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 16th. Investors of record on Thursday, May 26th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, May 25th. This is a positive change from Applied Materials’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 0.93%. Applied Materials’s dividend payout ratio (DPR) is currently 13.35%.

A number of research firms have recently commented on AMAT. Piper Sandler cut their target price on Applied Materials from $158.00 to $153.00 and set a “neutral” rating on the stock in a research note on Thursday, February 17th. Citigroup increased their price objective on Applied Materials from $178.00 to $180.00 in a research note on Thursday, February 17th. UBS Group increased their price objective on Applied Materials from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Thursday, February 17th. Stifel Nicolaus increased their price objective on Applied Materials from $190.00 to $197.00 in a research note on Thursday, April 7th. Finally, Zacks Investment Research raised Applied Materials from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Wednesday, January 19th. Eight research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $169.54.

Applied Materials Profile (Get Rating)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It 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.

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

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