Clearstead Trust LLC Invests $846,000 in Applied Materials, Inc. (NASDAQ:AMAT)

Clearstead Trust LLC acquired a new stake in Applied Materials, Inc. (NASDAQ:AMAT) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,201 shares of the manufacturing equipment provider’s stock, valued at approximately $846,000.

Other large investors have also added to or reduced their stakes in the company. FPC Investment Advisory Inc. bought a new position in Applied Materials in the 4th quarter valued at approximately $28,000. Crews Bank & Trust bought a new position in Applied Materials in the 4th quarter valued at approximately $28,000. MidAtlantic Capital Management Inc. bought a new position in Applied Materials in the 3rd quarter valued at approximately $37,000. YANKCOM Partnership bought a new position in Applied Materials in the 4th quarter valued at approximately $32,000. Finally, Dunhill Financial LLC raised its holdings in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after buying an additional 81 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Price Performance

Shares of AMAT opened at $155.66 on Friday. Applied Materials, Inc. has a 12-month low of $145.37 and a 12-month high of $255.89. The business’s fifty day moving average is $172.54 and its 200 day moving average is $179.36. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The stock has a market cap of $126.46 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last issued its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its Board of Directors has authorized a stock repurchase plan 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 repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Applied Materials Increases Dividend

The business 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 dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a yield of 1.18%. Applied Materials’s dividend payout ratio (DPR) is 24.05%.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. TD Cowen decreased their target price on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a research report on Friday, November 15th. Mizuho decreased their target price on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a research report on Friday, January 10th. Morgan Stanley reissued an “underweight” rating and set a $164.00 target price (down previously from $179.00) on shares of Applied Materials in a research report on Thursday, December 5th. The Goldman Sachs Group decreased their target price on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $250.00 target price on shares of Applied Materials in a research report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials 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.