Geode Capital Management LLC Grows Stock Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Geode Capital Management LLC increased its position in Applied Materials, Inc. (NASDAQ:AMAT) by 1.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 20,079,451 shares of the manufacturing equipment provider’s stock after buying an additional 253,078 shares during the period. Geode Capital Management LLC’s holdings in Applied Materials were worth $3,260,178,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Applied Materials by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 77,039,667 shares of the manufacturing equipment provider’s stock valued at $12,528,961,000 after purchasing an additional 487,358 shares during the period. State Street Corp grew its holdings in Applied Materials by 1.8% during the 3rd quarter. State Street Corp now owns 38,808,047 shares of the manufacturing equipment provider’s stock valued at $7,841,178,000 after buying an additional 672,548 shares in the last quarter. Norges Bank bought a new stake in shares of Applied Materials during the fourth quarter valued at approximately $1,588,422,000. Alliancebernstein L.P. lifted its holdings in shares of Applied Materials by 7.6% in the fourth quarter. Alliancebernstein L.P. now owns 8,338,520 shares of the manufacturing equipment provider’s stock worth $1,356,094,000 after buying an additional 587,036 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Applied Materials by 1.3% during the fourth quarter. Van ECK Associates Corp now owns 6,655,308 shares of the manufacturing equipment provider’s stock worth $1,082,353,000 after acquiring an additional 84,130 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Analyst Ratings Changes

AMAT has been the topic of several research analyst reports. Jefferies Financial Group upgraded shares of Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 price target on the stock in a research note on Friday. Susquehanna increased their price target on Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, January 22nd. Needham & Company LLC reduced their price objective on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Edward Jones raised Applied Materials from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $164.00 target price (down from $179.00) on shares of Applied Materials in a report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $214.67.

Insider Activity

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the transaction, the chief accounting officer now directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.24% of the company’s stock.

Applied Materials Trading Up 0.0 %

AMAT opened at $145.12 on Tuesday. 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’s fifty day moving average is $166.39 and its two-hundred day moving average is $176.57. The company has a market capitalization of $117.90 billion, a P/E ratio of 18.97, a PEG ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a 52 week low of $141.16 and a 52 week high of $255.89.

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 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%. Analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is currently 24.05%.

Applied Materials announced that its board has approved a share buyback plan 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 plans are usually a sign that the company’s leadership believes its stock is undervalued.

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.