Broad Run Investment Management LLC Sells 2,101 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Broad Run Investment Management LLC reduced its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 217,352 shares of the manufacturing equipment provider’s stock after selling 2,101 shares during the quarter. Applied Materials accounts for approximately 4.8% of Broad Run Investment Management LLC’s holdings, making the stock its 10th biggest position. Broad Run Investment Management LLC’s holdings in Applied Materials were worth $35,348,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Field & Main Bank grew its position in Applied Materials by 1.8% during the fourth quarter. Field & Main Bank now owns 3,170 shares of the manufacturing equipment provider’s stock worth $516,000 after buying an additional 55 shares in the last quarter. Bank of New Hampshire lifted its position in shares of Applied Materials by 0.8% in the 4th quarter. Bank of New Hampshire now owns 6,998 shares of the manufacturing equipment provider’s stock worth $1,138,000 after acquiring an additional 56 shares during the period. Grove Bank & Trust grew its holdings in shares of Applied Materials by 0.8% during the 4th 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 in the last quarter. Cyndeo Wealth Partners LLC grew its holdings in shares of Applied Materials by 0.4% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock worth $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% during the fourth quarter. Mezzasalma Advisors LLC now owns 2,060 shares of the manufacturing equipment provider’s stock valued at $335,000 after purchasing an additional 60 shares during the period. 80.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AMAT shares. Barclays decreased their price target on shares of Applied Materials from $190.00 to $160.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Needham & Company LLC decreased their target price on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Stifel Nicolaus lowered their target price on shares of Applied Materials from $235.00 to $195.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Mizuho cut 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 note on Friday, January 10th. Finally, Edward Jones upgraded Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Applied Materials currently has a consensus rating of “Moderate Buy” and an average price target of $208.86.

Insider Transactions at Applied Materials

In other Applied Materials news, CEO Gary E. Dickerson bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 3rd. The stock was acquired at an average price of $137.30 per share, with a total value of $6,865,000.00. Following the completion of the transaction, the chief executive officer now owns 1,716,058 shares in the company, valued at approximately $235,614,763.40. This trade represents a 3.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Adam Sanders sold 271 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares in the company, valued at $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Applied Materials Stock Performance

AMAT stock opened at $151.55 on Friday. Applied Materials, Inc. has a 1-year low of $123.74 and a 1-year high of $255.89. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The firm has a market cap of $123.13 billion, a PE ratio of 19.81, a P/E/G ratio of 1.81 and a beta of 1.61. The business’s 50-day moving average price is $149.54 and its two-hundred day moving average price is $168.57.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. As a group, research analysts forecast that Applied Materials, Inc. will post 9.38 earnings per share for the current year.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. Applied Materials’s payout ratio is 24.05%.

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

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.