Applied Materials, Inc. (NASDAQ:AMAT) Shares Bought by Independent Advisor Alliance

Independent Advisor Alliance grew its stake in Applied Materials, Inc. (NASDAQ:AMAT) by 30.1% during the 4th quarter, Holdings Channel reports. The firm owned 24,583 shares of the manufacturing equipment provider’s stock after purchasing an additional 5,689 shares during the quarter. Independent Advisor Alliance’s holdings in Applied Materials were worth $3,998,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. FPC Investment Advisory Inc. purchased a new stake in Applied Materials during the 4th quarter worth approximately $28,000. Crews Bank & Trust acquired a new stake in shares of Applied Materials in the fourth quarter worth approximately $28,000. MidAtlantic Capital Management Inc. purchased a new stake in shares of Applied Materials during the third quarter worth approximately $37,000. YANKCOM Partnership acquired a new position in Applied Materials in the 4th quarter valued at $32,000. Finally, Dunhill Financial LLC lifted its holdings in Applied Materials by 61.4% in the 3rd quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock valued at $43,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Applied Materials Stock Down 2.0 %

NASDAQ:AMAT opened at $146.99 on Wednesday. The stock’s fifty day moving average is $173.37 and its two-hundred day moving average is $180.06. Applied Materials, Inc. has a 52 week low of $145.37 and a 52 week high of $255.89. The stock has a market capitalization of $119.42 billion, a price-to-earnings ratio of 19.21, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29.

Applied Materials (NASDAQ:AMAT) last issued its quarterly earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, beating the consensus estimate of $2.28 by $0.10. Applied Materials had a net margin of 22.95% and a return on equity of 39.50%. Research analysts anticipate that Applied Materials, Inc. will post 9.38 EPS for the current year.

Applied Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, May 22nd. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio (DPR) is presently 20.92%.

Applied Materials announced that its board has initiated a stock buyback program on Monday, March 10th that permits the company to buyback $10.00 billion in shares. This buyback authorization permits the manufacturing equipment provider to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Susquehanna upped their target price on shares of Applied Materials from $155.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, January 22nd. TD Cowen cut their price objective on shares of Applied Materials from $250.00 to $230.00 and set a “buy” rating for the company in a report on Friday, November 15th. Evercore ISI lowered their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating on the stock in a report on Friday, November 15th. Sanford C. Bernstein cut their price target on Applied Materials from $220.00 to $210.00 and set an “outperform” rating for the company in a report on Friday, November 29th. Finally, Citigroup boosted their price objective on Applied Materials from $194.00 to $202.00 and gave the stock a “buy” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $215.38.

Insider Transactions at Applied Materials

In related news, CAO Adam Sanders sold 271 shares of Applied Materials stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $172.72, for a total value of $46,807.12. Following the completion of the transaction, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. The trade was a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Applied Materials Company Profile

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.