Greenwich Wealth Management LLC Has $8.65 Million Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Greenwich Wealth Management LLC grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 0.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,205 shares of the manufacturing equipment provider’s stock after buying an additional 81 shares during the quarter. Applied Materials accounts for about 0.6% of Greenwich Wealth Management LLC’s investment portfolio, making the stock its 23rd biggest holding. Greenwich Wealth Management LLC’s holdings in Applied Materials were worth $8,653,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the business. Swedbank AB raised its position in Applied Materials by 2.6% during the third quarter. Swedbank AB now owns 4,244,566 shares of the manufacturing equipment provider’s stock worth $857,615,000 after acquiring an additional 108,827 shares in the last quarter. Zions Bancorporation N.A. raised its position in shares of Applied Materials by 26.4% in the third quarter. Zions Bancorporation N.A. now owns 1,917 shares of the manufacturing equipment provider’s stock valued at $387,000 after purchasing an additional 400 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Applied Materials by 13.1% in the third quarter. OneDigital Investment Advisors LLC now owns 13,223 shares of the manufacturing equipment provider’s stock valued at $2,672,000 after acquiring an additional 1,531 shares in the last quarter. Intellectus Partners LLC acquired a new position in shares of Applied Materials in the third quarter valued at about $737,000. Finally, Sheaff Brock Investment Advisors LLC grew its stake in Applied Materials by 5.4% during the third quarter. Sheaff Brock Investment Advisors LLC now owns 5,242 shares of the manufacturing equipment provider’s stock worth $1,059,000 after buying an additional 267 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on AMAT. Edward Jones upgraded shares of Applied Materials from a “hold” rating to a “buy” rating in a research note on Wednesday. Morgan Stanley restated an “underweight” rating and issued a $164.00 price target (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Sanford C. Bernstein reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, November 29th. The Goldman Sachs Group reduced their price target on shares of Applied Materials from $230.00 to $202.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Needham & Company LLC reduced their price target on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Applied Materials Stock Up 3.8 %

Applied Materials stock opened at $155.66 on Friday. 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, Inc. has a 52-week low of $145.37 and a 52-week high of $255.89. The firm has a 50 day moving average price of $172.54 and a two-hundred day moving average price of $179.24. The firm has a market cap of $126.46 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.81 and a beta of 1.62.

Applied Materials (NASDAQ:AMAT) last released its quarterly 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%. Equities analysts predict that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 annualized dividend and a dividend yield of 1.18%. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s payout ratio is currently 24.05%.

Applied Materials announced that its board has authorized a stock repurchase 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 buy up to 8.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction on 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 sale, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by company insiders.

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.