UMB Bank n.a. Increases Investment in Applied Materials, Inc.

UMB Bank n.a. significantly raised its investment in Applied Materials, Inc. (NASDAQ:AMAT - Free Report) by an impressive 288.8% during the fourth quarter, based on its latest 13F filing with the SEC. After acquiring an additional 27,123 shares, UMB Bank now holds a total of 36,516 shares in the manufacturing equipment company. As of the close of the last reporting period, these shares were valued at approximately $5,939,000.

In addition to UMB Bank, several other institutional investors and hedge funds have also adjusted their positions in Applied Materials recently. For example, EdgePoint Investment Group Inc. increased its stake in the company by 341.0% in the third quarter, now possessing 2,857,155 shares worth about $577,288,000 after acquiring 2,209,218 shares. Similarly, Janus Henderson Group PLC raised its investment by 67.8%, owning 4,663,133 shares valued at $942,187,000 after purchasing 1,884,153 additional shares. Van ECK Associates Corp boosted its stake by 29.8%, now controlling 6,571,178 shares worth $1,327,707,000 after adding 1,509,439 shares. Assenagon Asset Management S.A. also enhanced its investment by 262.5%, bringing its holdings to 1,390,501 shares valued at $280,951,000 after acquiring an extra 1,006,937 shares. Finally, Alkeon Capital Management LLC increased its position by 87.7%, now owning 1,877,133 shares valued at $379,275,000 following the acquisition of 877,133 shares. Currently, institutional investors own 80.56% of Applied Materials stock.

Changes in Analyst Ratings

Several analysts have recently updated their recommendations regarding Applied Materials. Deutsche Bank Aktiengesellschaft revised its price target from $220.00 to $200.00 and maintained a "hold" rating. The Goldman Sachs Group adjusted its target from $230.00 to $202.00 while keeping a "buy" rating. Evercore ISI reduced its price target from $260.00 to $250.00 and categorized the stock as "outperform." KeyCorp upgraded its rating from "sector weight" to "overweight" with a target price of $225.00. Lastly, Bank of America cut its price target from $220.00 to $210.00, while still issuing a "buy" rating. Overall, one analyst rated the stock as a sell, seven issued a hold rating, and fifteen analysts assigned a buy rating. Data from MarketBeat.com indicates a consensus rating of "Moderate Buy" with an average target price of $218.95.

Latest Stock Performance

As of Monday, shares of Applied Materials opened at $192.05. Over the past year, the stock has seen a low of $156.78 and a high of $255.89. The company's 50-day moving average stands at $173.10, while the 200-day moving average is at $190.95. Applied Materials has a market cap of $156.27 billion and a PE ratio of 22.31, with a P/E/G ratio of 1.75. The firm currently has a current ratio of 2.51, a quick ratio of 1.87, and a debt-to-equity ratio of 0.29.

Dividend Announcement

Recently, Applied Materials also declared a quarterly dividend, which is set to be paid on Thursday, March 13th. Shareholders recorded on Thursday, February 20th, will receive a dividend of $0.40 per share, marking an annualized dividend of $1.60 and a yield of 0.83%. The company’s current dividend payout ratio is 18.58%.

About Applied Materials

Applied Materials, Inc. specializes in providing manufacturing equipment, services, and software primarily for the semiconductor, display, and related industries. They operate through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment focuses on the development, manufacturing, and sale of equipment used to fabricate semiconductor chips or integrated circuits.

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