Fintel reports that on November 22, 2023, Redburn Atlantic upgraded its outlook for Applied Materials (NASDAQ:AMAT) from Neutral to to buy .
Analytical Price Forecast Suggests 5.66% Up
As of November 1, 2023, the average one-year price target for Applied Materials is 161.21. The forecasts range from a low of 121.20 to a high of $194.25. The average price target represents an increase of 5.66% from its last reported closing price of 152.57.
See our leaderboard of companies with the largest price target.
The projected annual revenue for Applied Materials is 24,715 MM, a decrease of 6.80%. The projected annual non-GAAP EPS is 6.84.
Applied Materials Declares $0.32 Dividend
On September 7, 2023 the company declared a regular quarterly dividend of $0.32 per share ($1.28 annually). Shareholders registered until November 24, 2023 will receive the payment on December 14, 2023. Previously, the company paid $0.32 per share.
At the current share price of $152.57/share, the stock’s dividend yield is 0.84%.
Looking back five years and taking a sample each week, the average dividend yield was 1.22%, the lowest was 0.59%, and the highest was 2.76%. The standard deviation of returns is 0.48 (n=236).
The current dividend yield is 0.80 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.16. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid out in dividends. A payout ratio greater than one means the company is dipping into savings to maintain its dividend — not a healthy situation. Companies with few growth prospects are expected to pay out most of their earnings in dividends, which usually means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 0.45%, demonstrating that it has increased its dividend over time.
What is the Basic Sense?
There are 3067 funds or institutions reporting positions in Applied Materials. This is an increase of 55 owner(s) or 1.83% in the last quarter. Average portfolio weight of all funds dedicated to AMAT is 0.59%, an increase of 4.16%. Total shares owned by institutions increased in the last three months by 2.46% to 774,866K shares. AMAT’s put/call ratio is 1.26, indicating a bearish outlook.
What Are Other Shareholders Doing?
Capital World Investors holds 36,753K shares representing 4.39% ownership of the company. In its previous filing, the company reported owning 36,698K shares, representing an increase of 0.15%. The company decreased its portfolio allocation in AMAT by 1.20% during the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 26,358K shares representing 3.15% ownership of the company. In its previous filing, the company reported owning 26,164K shares, representing an increase of 0.73%. The company increased its portfolio allocation in AMAT by 9.37% during the last quarter.
Capital International Investors holds 21,323K shares representing 2.55% ownership of the company. In its previous filing, the company reported owning 20,883K shares, representing an increase of 2.07%. The company increased its portfolio allocation in AMAT by 2.85% during the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 20,122K shares representing 2.41% ownership of the company. In its previous filing, the company reported owning 19,673K shares, representing an increase of 2.23%. The company increased its portfolio allocation in AMAT by 9.01% during the last quarter.
Geode Capital Management holds 18,433K shares representing 2.20% ownership of the company. In its previous filing, the company reported owning 16,991K shares, representing an increase of 7.82%. The company increased its portfolio allocation in AMAT by 5.40% during the last quarter.
Background Information on Applied Materials
(This description is provided by the company.)
Applied Materials, Inc. is the leader in materials engineering solutions used to produce nearly every new chip and advanced display in the world. Its expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality.
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This story originally appeared on Fintel.
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