FineMark National Bank & Trust Has $3.54 Million Stake in Applied Materials, Inc. (NASDAQ:AMAT)

FineMark National Bank & Trust lowered its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 21,773 shares of the manufacturing equipment provider’s stock after selling 247 shares during the period. FineMark National Bank & Trust’s holdings in Applied Materials were worth $3,541,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Field & Main Bank boosted its position in Applied Materials by 1.8% during the 4th quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock worth $516,000 after acquiring an additional 55 shares during the last quarter. Bank of New Hampshire lifted its position in shares of Applied Materials by 0.8% in the fourth quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock worth $1,138,000 after purchasing an additional 56 shares in the last quarter. Grove Bank & Trust boosted its holdings in Applied Materials by 0.8% during the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock worth $1,202,000 after purchasing an additional 60 shares during the last quarter. Cyndeo Wealth Partners LLC grew its position in Applied Materials by 0.4% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock valued at $2,375,000 after purchasing an additional 60 shares in the last quarter. Finally, Mezzasalma Advisors LLC increased its position in shares of Applied Materials by 3.0% in the fourth quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock valued at $335,000 after acquiring an additional 60 shares during the last quarter. Institutional investors own 80.56% of the company’s stock.

Applied Materials Trading Down 0.8 %

Shares of Applied Materials stock opened at $153.64 on Wednesday. Applied Materials, Inc. has a 52-week low of $145.37 and a 52-week high of $255.89. The stock has a market cap of $124.82 billion, a PE ratio of 20.08, a PEG ratio of 1.81 and a beta of 1.62. The firm has a 50-day moving average of $169.60 and a 200-day moving average of $177.53. 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 announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS 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%. As a group, sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s dividend payout ratio is presently 24.05%.

Applied Materials announced that its Board of Directors has authorized a share buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to reacquire up to 8.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AMAT. Mizuho decreased 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, January 10th. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Barclays dropped their price target on shares of Applied Materials from $200.00 to $190.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Citigroup boosted their price objective on shares of Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. Finally, Needham & Company LLC cut their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total transaction of $46,807.12. Following the completion of the sale, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at $1,119,052.88. This 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 through the SEC website. 0.24% of the stock is currently owned by insiders.

Applied Materials Company 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.