Erste Asset Management GmbH Raises Holdings in Applied Materials, Inc. (NASDAQ:AMAT)

Erste Asset Management GmbH boosted its stake in shares of Applied Materials, Inc. (NASDAQ:AMAT) by 11.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 506,279 shares of the manufacturing equipment provider’s stock after acquiring an additional 53,114 shares during the quarter. Applied Materials accounts for about 1.0% of Erste Asset Management GmbH’s investment portfolio, making the stock its 17th largest holding. Erste Asset Management GmbH owned approximately 0.06% of Applied Materials worth $83,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of AMAT. Crews Bank & Trust purchased a new stake in Applied Materials during the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. purchased a new stake in Applied Materials during the 4th quarter valued at about $28,000. YANKCOM Partnership purchased a new stake in Applied Materials during the 4th quarter valued at about $32,000. MidAtlantic Capital Management Inc. purchased a new stake in Applied Materials during the 3rd quarter valued at about $37,000. Finally, City Holding Co. bought a new position in Applied Materials during the 4th quarter valued at approximately $39,000. 80.56% of the stock is currently owned by hedge funds and other institutional investors.

Applied Materials Stock Up 1.4 %

AMAT stock opened at $149.06 on Thursday. Applied Materials, Inc. has a twelve month low of $145.37 and a twelve month high of $255.89. The company has a quick ratio of 1.96, a current ratio of 2.67 and a debt-to-equity ratio of 0.29. The firm has a market cap of $121.10 billion, a PE ratio of 19.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.62. The business has a 50 day moving average of $173.10 and a 200 day moving average of $179.85.

Applied Materials (NASDAQ:AMAT) last posted its quarterly earnings data on Thursday, February 13th. The manufacturing equipment provider reported $2.38 earnings per share 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%. On average, research 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 approved a stock repurchase plan on Monday, March 10th that allows the company to buyback $10.00 billion in outstanding shares. This buyback authorization allows the manufacturing equipment provider to repurchase up to 8.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Applied Materials Increases Dividend

The firm also recently announced 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. This represents a $1.84 annualized dividend and a yield of 1.23%. This is an increase from Applied Materials’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, May 22nd. Applied Materials’s dividend payout ratio (DPR) is currently 20.92%.

Insider Buying and Selling at Applied Materials

In other Applied Materials news, CAO Adam Sanders sold 271 shares of the stock in a transaction 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 directly owns 6,479 shares in the company, valued at approximately $1,119,052.88. This trade represents a 4.01 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AMAT shares. Deutsche Bank Aktiengesellschaft lowered their price target on Applied Materials from $220.00 to $200.00 and set a “hold” rating for the company in a research report on Friday, November 15th. Citigroup upped their price target on Applied Materials from $194.00 to $202.00 and gave the company a “buy” rating in a research report on Tuesday, February 18th. Evercore ISI lowered their price target on Applied Materials from $260.00 to $250.00 and set an “outperform” rating for the company in a research report on Friday, November 15th. Stifel Nicolaus lowered their price target on Applied Materials from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Bank of America lowered their price target on Applied Materials from $220.00 to $210.00 and set a “buy” rating for the company in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $215.38.

About Applied Materials

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.