Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by First Commonwealth Financial Corp PA

First Commonwealth Financial Corp PA increased its holdings in Applied Materials, Inc. (NASDAQ:AMAT) by 7.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,506 shares of the manufacturing equipment provider’s stock after buying an additional 359 shares during the period. First Commonwealth Financial Corp PA’s holdings in Applied Materials were worth $895,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in AMAT. Norges Bank purchased a new stake in Applied Materials in the 4th quarter valued at approximately $1,588,422,000. Raymond James Financial Inc. acquired a new position in Applied Materials in the 4th quarter valued at about $182,962,000. Bessemer Group Inc. lifted its holdings in Applied Materials by 1,069.9% in the 4th quarter. Bessemer Group Inc. now owns 1,079,977 shares of the manufacturing equipment provider’s stock valued at $175,637,000 after purchasing an additional 987,660 shares in the last quarter. Alecta Tjanstepension Omsesidigt purchased a new stake in shares of Applied Materials during the fourth quarter worth about $157,426,000. Finally, Flossbach Von Storch SE raised its position in shares of Applied Materials by 126.6% in the fourth quarter. Flossbach Von Storch SE now owns 1,600,078 shares of the manufacturing equipment provider’s stock valued at $260,221,000 after buying an additional 893,995 shares during the last quarter. 80.56% of the stock is owned by institutional investors and hedge funds.

Applied Materials Stock Performance

Shares of AMAT stock opened at $138.19 on Thursday. Applied Materials, Inc. has a 12 month low of $123.74 and a 12 month high of $255.89. The firm has a market capitalization of $112.27 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.81 and a beta of 1.61. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.67 and a quick ratio of 1.96. The company’s fifty day moving average price is $154.51 and its two-hundred day moving average price is $171.64.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating 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%. On average, research analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials announced that its board has authorized a stock repurchase program on Monday, March 10th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Applied Materials Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Investors of record on Thursday, May 22nd will be issued a $0.46 dividend. The ex-dividend date of this dividend 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 1.33%. Applied Materials’s dividend payout ratio is currently 24.05%.

Insiders Place Their Bets

In other Applied Materials news, CEO Gary E. Dickerson acquired 50,000 shares of the firm’s stock in a transaction on Thursday, April 3rd. The stock was purchased at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,716,058 shares in the company, valued at $235,614,763.40. This trade represents a 3.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Adam Sanders sold 450 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $144.83, for a total transaction of $65,173.50. Following the sale, the chief accounting officer now owns 6,077 shares of the company’s stock, valued at approximately $880,131.91. The trade was a 6.89 % decrease in their position. The disclosure for this sale can be found here. 0.24% of the stock is owned by company insiders.

Analysts Set New Price Targets

AMAT has been the subject of several analyst reports. KeyCorp upgraded Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a report on Friday, January 17th. Bank of America decreased their price target on Applied Materials from $205.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday. Needham & Company LLC cut their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Edward Jones raised shares of Applied Materials from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Mizuho dropped their price target 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Applied Materials presently has a consensus rating of “Moderate Buy” and an average price target of $210.29.

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.