Bank of Nova Scotia Acquires 462,104 Shares of Applied Materials, Inc. (NASDAQ:AMAT)

Bank of Nova Scotia grew its stake in shares of Applied Materials, Inc. (NASDAQ:AMATFree Report) by 161.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 748,720 shares of the manufacturing equipment provider’s stock after acquiring an additional 462,104 shares during the period. Bank of Nova Scotia owned 0.09% of Applied Materials worth $121,341,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Atlantic Edge Private Wealth Management LLC purchased a new stake in Applied Materials during the 4th quarter worth about $27,000. DSM Capital Partners LLC purchased a new stake in shares of Applied Materials in the fourth quarter worth about $37,000. First United Bank & Trust purchased a new stake in shares of Applied Materials in the fourth quarter worth about $45,000. Tompkins Financial Corp bought a new position in shares of Applied Materials in the fourth quarter valued at approximately $49,000. Finally, Highlander Capital Management LLC grew its stake in Applied Materials by 60.0% during the fourth quarter. Highlander Capital Management LLC now owns 320 shares of the manufacturing equipment provider’s stock valued at $52,000 after acquiring an additional 120 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Insider Transactions at Applied Materials

In related news, SVP Teri A. Little sold 7,500 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $213.02, for a total transaction of $1,597,650.00. Following the transaction, the senior vice president now owns 78,712 shares in the company, valued at approximately $16,767,230.24. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, SVP Teri A. Little sold 7,500 shares of Applied Materials stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $213.02, for a total value of $1,597,650.00. Following the sale, the senior vice president now directly owns 78,712 shares in the company, valued at approximately $16,767,230.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Brice Hill sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 28th. The shares were sold at an average price of $222.34, for a total value of $4,446,800.00. Following the transaction, the chief financial officer now directly owns 108,356 shares in the company, valued at $24,091,873.04. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

AMAT has been the subject of several analyst reports. B. Riley raised their price target on shares of Applied Materials from $250.00 to $255.00 and gave the company a “buy” rating in a report on Friday, May 17th. Needham & Company LLC reissued a “buy” rating and set a $240.00 price objective on shares of Applied Materials in a research note on Friday, May 17th. Susquehanna upped their target price on Applied Materials from $160.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Bank of America lifted their price target on Applied Materials from $222.00 to $250.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, The Goldman Sachs Group upped their price objective on shares of Applied Materials from $156.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat, Applied Materials has an average rating of “Moderate Buy” and a consensus price target of $215.64.

Check Out Our Latest Report on Applied Materials

Applied Materials Trading Down 0.7 %

AMAT traded down $1.46 on Friday, hitting $215.08. 13,548,694 shares of the company were exchanged, compared to its average volume of 4,373,177. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.97 and a current ratio of 2.80. The firm has a fifty day simple moving average of $207.73 and a two-hundred day simple moving average of $184.39. The stock has a market capitalization of $178.08 billion, a PE ratio of 24.72, a price-to-earnings-growth ratio of 2.81 and a beta of 1.58. Applied Materials, Inc. has a 12 month low of $129.21 and a 12 month high of $225.07.

Applied Materials (NASDAQ:AMATGet Free Report) last issued its earnings results on Thursday, May 16th. The manufacturing equipment provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.12. Applied Materials had a net margin of 27.57% and a return on equity of 41.22%. The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $6.54 billion. During the same quarter last year, the business earned $2.00 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Applied Materials, Inc. will post 8.32 earnings per share for the current year.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 13th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.74%. This is an increase from Applied Materials’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, May 22nd. Applied Materials’s dividend payout ratio is 18.39%.

Applied Materials Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

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