Applied Materials, Inc. (NASDAQ:AMAT) Shares Acquired by Bristol Gate Capital Partners Inc.

Bristol Gate Capital Partners Inc. boosted its position in Applied Materials, Inc. (NASDAQ:AMAT) by 0.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 383,628 shares of the manufacturing equipment provider’s stock after purchasing an additional 3,108 shares during the quarter. Applied Materials comprises about 3.0% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 22nd largest position. Bristol Gate Capital Partners Inc.’s holdings in Applied Materials were worth $62,389,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AMAT. Crews Bank & Trust purchased a new stake in Applied Materials in the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials in the 4th quarter valued at $28,000. YANKCOM Partnership purchased a new position in shares of Applied Materials in the 4th quarter worth $32,000. City Holding Co. acquired a new position in Applied Materials in the fourth quarter valued at $39,000. Finally, Dunhill Financial LLC increased its stake in Applied Materials by 61.4% during the third quarter. Dunhill Financial LLC now owns 213 shares of the manufacturing equipment provider’s stock worth $43,000 after acquiring an additional 81 shares during the last quarter. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Applied Materials

In other news, CAO Adam Sanders sold 271 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $172.72, for a total value of $46,807.12. Following the sale, the chief accounting officer now directly owns 6,479 shares of the company’s stock, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.24% of the stock is owned by corporate insiders.

Applied Materials Trading Down 6.3 %

NASDAQ AMAT opened at $126.95 on Monday. Applied Materials, Inc. has a 1-year low of $121.86 and a 1-year high of $255.89. The firm’s fifty day simple moving average is $162.19 and its 200-day simple moving average is $175.20. The company has a current ratio of 2.67, a quick ratio of 1.96 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $103.14 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.81 and a beta of 1.61.

Applied Materials (NASDAQ:AMAT) last posted its earnings results on Thursday, February 13th. The manufacturing equipment provider reported $2.38 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Applied Materials, Inc. will post 9.38 earnings per share for the current fiscal year.

Applied Materials declared that its board has approved a stock buyback plan on Monday, March 10th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to purchase up to 8.2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Applied Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 12th. Stockholders of record on Thursday, May 22nd will be given a $0.46 dividend. This is a positive change from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. Applied Materials’s dividend payout ratio (DPR) is currently 24.05%.

Wall Street Analyst Weigh In

AMAT has been the topic of a number of recent research reports. Mizuho reduced their price target on shares of Applied Materials from $220.00 to $210.00 and set an “outperform” rating on the stock in a research report on Friday, January 10th. Stifel Nicolaus decreased their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Susquehanna raised their price target on shares of Applied Materials from $155.00 to $165.00 and gave the company a “neutral” rating in a report on Wednesday, January 22nd. Needham & Company LLC decreased their price objective on shares of Applied Materials from $200.00 to $195.00 and set a “buy” rating for the company in a report on Friday, February 14th. Finally, Citigroup lifted their price target 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, six have issued a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $214.67.

Applied Materials 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.