Goldman Sachs Maintains Agilent Technologies Buy Recommendation
Fintel reports that on May 24, 2023, Goldman Sachs maintained coverage of Agilent Technologies (NYSE:A) with a Buy recommendation.
Analyst Price Forecast Suggests 29.29% Upside
As of May 11, 2023, the average one-year price target for Agilent Technologies is 166.32. The forecasts range from a low of 146.45 to a high of $182.70. The average price target represents an increase of 29.29% from its latest reported closing price of 128.64.
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The projected annual revenue for Agilent Technologies is 7,130MM, an increase of 1.28%. The projected annual non-GAAP EPS is 5.77.
Agilent Technologies Declares $0.22 Dividend
On May 17, 2023 the company declared a regular quarterly dividend of $0.22 per share ($0.90 annualized). Shareholders of record as of July 3, 2023 will receive the payment on July 26, 2023. Previously, the company paid $0.22 per share.
At the current share price of $128.64 / share, the stock’s dividend yield is 0.70%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.74%, the lowest has been 0.44%, and the highest has been 1.14%. The standard deviation of yields is 0.16 (n=236).
The current dividend yield is 0.26 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.20. 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 in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order 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 0.25%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 2012 funds or institutions reporting positions in Agilent Technologies. This is an increase of 53 owner(s) or 2.71% in the last quarter. Average portfolio weight of all funds dedicated to A is 0.40%, a decrease of 8.32%. Total shares owned by institutions increased in the last three months by 0.70% to 302,422K shares. The put/call ratio of A is 1.12, indicating a bearish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 12,057K shares representing 4.08% ownership of the company. In it’s prior filing, the firm reported owning 13,408K shares, representing a decrease of 11.21%. The firm decreased its portfolio allocation in A by 17.85% over the last quarter.
T. Rowe Price Investment Management holds 9,277K shares representing 3.14% ownership of the company. In it’s prior filing, the firm reported owning 9,304K shares, representing a decrease of 0.29%. The firm decreased its portfolio allocation in A by 13.88% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 8,971K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 8,825K shares, representing an increase of 1.62%. The firm increased its portfolio allocation in A by 15.57% over the last quarter.
Massachusetts Financial Services holds 8,907K shares representing 3.01% ownership of the company. In it’s prior filing, the firm reported owning 7,868K shares, representing an increase of 11.66%. The firm increased its portfolio allocation in A by 2.60% over the last quarter.
Price T Rowe Associates holds 8,219K shares representing 2.78% ownership of the company. In it’s prior filing, the firm reported owning 7,707K shares, representing an increase of 6.23%. The firm decreased its portfolio allocation in A by 8.26% over the last quarter.
Agilent Technologies Background Information
(This description is provided by the company.)
Agilent Technologies Inc. is a global leader in life sciences, diagnostics, and applied chemical markets, delivering insight and innovation toward improving the quality of life. Agilent instruments, software, services, solutions, and people provide trusted answers to customers’ most challenging questions. The company generated revenue of $5.34 billion in fiscal year 2020 and employs 16,400 people worldwide.
Key filings for this company:
- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K
This article originally appeared on Fintel
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