Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Carret Asset Management LLC

Carret Asset Management LLC increased its position in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 35,180 shares of the manufacturing equipment provider’s stock after purchasing an additional 200 shares during the quarter. Carret Asset Management LLC’s holdings in Applied Materials were worth $5,721,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in shares of Applied Materials in the fourth quarter worth $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Applied Materials in the fourth quarter worth $28,000. YANKCOM Partnership acquired a new position in shares of Applied Materials in the fourth quarter worth $32,000. MidAtlantic Capital Management Inc. acquired a new position in shares of Applied Materials in the third quarter worth $37,000. Finally, City Holding Co. acquired a new position in shares of Applied Materials in the fourth quarter worth $39,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $172.72, for a total transaction of $46,807.12. Following the sale, the chief accounting officer now owns 6,479 shares in the company, valued at $1,119,052.88. This represents a 4.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AMAT. Cantor Fitzgerald reissued an “overweight” rating and issued a $250.00 price target on shares of Applied Materials in a report on Friday, November 15th. Morgan Stanley reiterated an “underweight” rating and issued a $164.00 target price (down from $179.00) on shares of Applied Materials in a research note on Thursday, December 5th. Wells Fargo & Company dropped their target price on Applied Materials from $210.00 to $200.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Evercore ISI dropped their target price on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research note on Friday, November 15th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and an average target price of $215.38.

Applied Materials Trading Up 0.6 %

Shares of AMAT opened at $149.95 on Friday. The company has a market capitalization of $121.83 billion, a P/E ratio of 19.60, a P/E/G ratio of 1.81 and a beta of 1.62. Applied Materials, Inc. has a one year low of $145.37 and a one year high of $255.89. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.96 and a current ratio of 2.67. The stock has a 50-day moving average price of $172.82 and a 200 day moving average price of $179.64.

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 analysts’ consensus estimates of $2.28 by $0.10. Applied Materials had a return on equity of 39.50% and a net margin of 22.95%. Sell-side analysts forecast that Applied Materials, Inc. will post 9.38 EPS for the current fiscal year.

Applied Materials announced that its Board of Directors has initiated a stock buyback plan on Monday, March 10th that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the manufacturing equipment provider to buy up to 8.2% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Applied Materials Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 12th. Shareholders of record on Thursday, May 22nd will be paid a dividend of $0.46 per share. The ex-dividend date is Thursday, May 22nd. This represents a $1.84 annualized dividend and a yield of 1.23%. This is a boost from Applied Materials’s previous quarterly dividend of $0.40. Applied Materials’s dividend payout ratio is presently 24.05%.

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.