Rockland Trust Co. Invests in Applied Materials, Inc.

Rockland Trust Co. made a significant move in the fourth quarter by purchasing a new stake in Applied Materials, Inc. (NASDAQ:AMAT) according to its latest filing with the Securities and Exchange Commission. The fund acquired 2,388 shares of the manufacturing equipment provider's stock, which is estimated to be worth around $388,000.

A number of other hedge funds and institutional investors have also adjusted their positions in Applied Materials recently. For instance, Fifth Third Wealth Advisors LLC increased its stake in Applied Materials by 1.5% during the fourth quarter, now owning 23,545 shares valued at $3,829,000 after adding 351 shares. Oak Thistle LLC entered the scene with a new position in Applied Materials worth $1,583,000. Similarly, Accurate Wealth Management LLC boosted its position by 3.6%, now holding 9,024 shares valued at $1,550,000 after acquiring an additional 315 shares. Wynn Capital LLC grew its stake by 1.2% during this period, resulting in ownership of 7,943 shares valued at $1,292,000. Lastly, Wallace Advisory Group LLC saw a substantial increase in its holdings, growing its position by 57.4%, now owning 1,797 shares worth $292,000 after buying 655 more shares. Currently, institutional investors own 80.56% of Applied Materials stock.

Performance of Applied Materials Stock

As of Thursday, the AMAT stock opened at $178.32. The company showcases strong financial ratios with a quick ratio of 1.87, a current ratio of 2.51, and a debt-to-equity ratio of 0.29. The fifty-day moving average stands at $173.43, while the 200-day moving average is $191.74. Applied Materials has a market capitalization of $145.10 billion, with a price-to-earnings ratio of 20.71 and a PEG ratio of 1.61. The stock’s performance over the past year has seen a low of $149.84 and a high of $255.89.

Recently, Applied Materials released its earnings results on November 14th. The company reported earnings per share (EPS) of $2.32, beating the consensus estimate of $2.19 by $0.13. The company recorded a net margin of 26.41% and a return on equity of 39.26%. Revenue for the quarter reached $7.05 billion, exceeding analyst expectations of $6.96 billion, showing a 4.8% growth compared to the same quarter the previous year. Analysts predict that Applied Materials will post 9.48 EPS for the current year.

Dividend Announcement from Applied Materials

On another note, the company has declared a quarterly dividend of $0.40, which will be paid on March 13th to stockholders on record as of February 20th. This reflects an annualized dividend of $1.60 and offers a yield of 0.90%. The ex-dividend date for this payment is February 20th, and Applied Materials currently has a payout ratio of 18.58%.

Analysts Adjust Price Targets

Applied Materials stock has been featured in various analyst reports. For example, Susquehanna reduced its price objective from $190.00 to $170.00 with a “neutral” rating. TD Cowen set a new price target of $230.00, downgrading from a previous $250.00 while maintaining a “buy” rating. Furthermore, Sanford C. Bernstein and Goldman Sachs have both revised their price targets as well. The current consensus rating for the stock is a “Moderate Buy” with an average price target of $218.24.

About Applied Materials

Applied Materials, Inc. is a key player in the manufacturing equipment, services, and software sector, serving the semiconductor and display industries. It operates through three main segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets, providing various technologies to fabricate semiconductor chips.

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