Cheviot Value Management LLC Cuts Position in Applied Materials, Inc. (NASDAQ:AMAT)

Cheviot Value Management LLC decreased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 5.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,050 shares of the manufacturing equipment provider’s stock after selling 301 shares during the quarter. Cheviot Value Management LLC’s holdings in Applied Materials were worth $821,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Field & Main Bank lifted its holdings in shares of 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 period. Bank of New Hampshire lifted its position in Applied Materials by 0.8% during 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 in the last quarter. Grove Bank & Trust boosted its stake in shares of Applied Materials by 0.8% in the fourth quarter. Grove Bank & Trust now owns 7,388 shares of the manufacturing equipment provider’s stock valued at $1,202,000 after purchasing an additional 60 shares during the period. Cyndeo Wealth Partners LLC increased its position in shares of Applied Materials by 0.4% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 14,601 shares of the manufacturing equipment provider’s stock worth $2,375,000 after acquiring an additional 60 shares during the last quarter. Finally, Mezzasalma Advisors LLC increased its stake 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 worth $335,000 after buying an additional 60 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Jefferies Financial Group upgraded Applied Materials from a “hold” rating to a “buy” rating and set a $195.00 target price for the company in a research note on Friday, March 28th. Barclays reduced their price objective on Applied Materials from $190.00 to $160.00 and set an “equal weight” rating for the company in a research report on Tuesday. Needham & Company LLC lowered their price target on Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a report on Friday, February 14th. KeyCorp raised shares of Applied Materials from a “sector weight” rating to an “overweight” rating and set a $225.00 price target for the company in a research note on Friday, January 17th. Finally, Wells Fargo & Company decreased their price target on shares of Applied Materials from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $208.86.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of Applied Materials 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 completion of the sale, the chief accounting officer now owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gary E. Dickerson acquired 50,000 shares of the company’s stock in a transaction on Thursday, April 3rd. The stock was bought at an average cost 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 approximately $235,614,763.40. This represents a 3.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.24% of the stock is currently owned by insiders.

Applied Materials Stock Performance

Shares of NASDAQ AMAT opened at $150.17 on Friday. Applied Materials, Inc. has a one year low of $123.74 and a one 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 business has a fifty day simple moving average of $149.95 and a 200 day simple moving average of $169.16. The firm has a market capitalization of $122.00 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT) last announced its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. Sell-side analysts expect 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. Investors of record on Thursday, May 22nd will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is presently 24.05%.

Applied Materials announced that its Board of Directors has authorized a share repurchase plan on Monday, March 10th that authorizes the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization authorizes the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is 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.